China, US pressure Ghana to halt gold royalty hike, document, sources say | Metals Mine

  • China, US pressure Ghana to halt gold royalty hike, document, sources say

    From kitco.com

    China, the U.S. and other Western governments have mounted an unusually coordinated ​push to get Ghana to halt a gold royalty hike they say could harm some of the world's biggest miners, according to three sources with knowledge of the matter and a letter from an industry body. Africa's largest gold producer wants to replace its fixed 5% royalty with a sliding scale between 5% and 12% linked to bullion prices – part of an effort to capture ​more revenue from gold's run to successive historic highs. Miners said the upper bands of the new regime, which could ​take effect as early as next week unless amended or ... (full story)

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