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Gold Miners Ordered to Sell 20% of Refined Bullion to Ghana

From bnnbloomberg.ca

Ghana ordered large gold-mining companies to sell 20% of the metal they refine to the nation’s central bank, as the government embarks on a plan to barter bullion for fuel. The directive will be effective Jan. 1, Minister for Lands and Natural Resources Samuel Jinapor said in a notice posted on Vice President Mahamudu Bawumia’s Facebook page. The government also ordered small-scale miners to sell their gold to the state-owned Precious Minerals Marketing Co. Ghana is struggling to stem a slide in the cedi, which has dropped 57% this year, making it the world’s worst-performing currency. Bawumia said on Thursday the ... (full story)

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