Ghana advances reforms of gold mining and cocoa industry

Ghana approved draft legislation to overhaul its mining sector, introducing a sliding‑scale royalty for gold tied to market prices and phasing out fiscal stability agreements. The changes could affect major producers such as Newmont, Gold Fields, AngloGold Ashanti, Zijin and Perseus Mining. The World Gold Council signed a memorandum of understanding with Ghana, pledging an initial $250,000 grant as part of a $1 million partnership to formalise artisanal and small‑scale gold mining and improve supply‑chain integrity.

In a separate but related initiative, the government announced a new COCOBOD Bill to replace the 1984 Cocoa Board Act. The bill guarantees cocoa farmers at least 70 % of the gross FOB price, aligns farmer payments with international cocoa prices and exchange‑rate movements, and requires that at least half of Ghana’s cocoa beans be processed domestically. The reforms aim to strengthen the sector’s financial sustainability, boost farmer incomes and expand local value‑addition.