The review will assess production volumes, royalties, tax payments, and environmental compliance
The Government of Ghana has launched its most extensive mining audit in ten years, targeting major companies to recover lost revenue and strengthen oversight, according to a government letter seen by Reuters.
The audit, led by the Minerals Commission, will run from November 2025 to June 2026 and will cover leading producers, including Newmont, AngloGold Ashanti, Gold Fields, Perseus Mining, Asante Gold, and China’s Zijin Mining Group.
According to Reuters, mining firms operating in the country have been ordered to submit 10 years of production records, three years of financial statements, permits, and shipment data by October 31, 2025.
Two-decade-old mining law set for major overhaul
The review will assess production volumes, royalty and tax payments, and environmental compliance.
In 2024, Ghana’s mining sector generated GH¢17.7 billion ($1.68 billion), driven largely by a 25% increase in gold output, which helped stabilise the economy after its worst crisis in decades.
The country expects gold production to rise to 5.1 million ounces in 2025.
As of October 20, 2025, spot gold prices had increased to a record high of over $4,380 per ounce.
The nationwide audit will begin with Gold Fields’ Damang Mine and Perseus Mining in November and conclude with Xtra-Gold’s Kibi site in June 2026.
An economist at the Institute for Fiscal Studies, Said Boakye told Reuters, “Special audits should be done every year, not periodically. It’s the only way to inform sound tax policy and unlock the sector’s true revenue potential.”
The last major audit was conducted in 2015, though its findings were disputed by some companies.
Additionally, the government is also planning sweeping mining reforms, including shorter licence terms and direct revenue-sharing with host communities.
With additional files from Reuters
MA
All you need to know about Ghana’s new vehicle number plates | BizTech: