Ghana Seeks Increased Gold Output for Local Refineries to Boost Economy
Ghana is aiming to increase the portion of gold output that large-scale mines must sell to the central bank from 20% to 30%. This move is intended to enhance local refining capabilities and bolster the country's foreign-exchange reserves. The central bank plans to purchase the gold as doré, or unrefined gold, to support local refineries. This initiative comes as gold prices remain high, and Ghana seeks to capture more value from its natural resources. The government has proposed buying the doré at a 1% discount to the spot price, with implementation potentially starting as early as June 1, pending agreement on pricing. 
