Ghana to buy 30% of large miners' gold output from July 1

From zawya.com

Ghana has struck a deal with its large-scale mining companies to ​purchase 30% ⁠of their gold output beginning July 1, the government said on Thursday, as it seeks to boost foreign currency reserves and develop local refining ​capacity. Central banks are increasingly stockpiling bullion as high prices bolster its ​appeal as a ​reserve asset. Ghana, Africa’s biggest gold producer, launched its purchase programme in 2022. It agreed with miners, via ⁠the Ghana Chamber of Mines, that they would supply 20% of annual output to the central bank. Holdings rose to 19.2 metric tons in February, Bank of Gh