{"id":38066,"date":"2026-06-25T21:00:43","date_gmt":"2026-06-25T19:00:43","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=38066"},"modified":"2026-06-25T21:51:57","modified_gmt":"2026-06-25T19:51:57","slug":"ghana-to-buy-30-of-large-miners-gold-output-from-july-1-statement","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/ghana-to-buy-30-of-large-miners-gold-output-from-july-1-statement\/","title":{"rendered":"Ghana to buy 30% of large miners&#8217; gold output from July 1: Statement"},"content":{"rendered":"<div>Ghana has struck a deal with its large-scale mining companies to purchase 30% of their gold \u200boutput beginning July 1, the government said on Thursday, \u200cas it seeks to boost foreign currency reserves and develop local refining capacity.<\/div>\n<div id=\"ms-outlook-mobile-signature\">\n<div><\/div>\n<div>Central banks are increasingly stockpiling bullion as high prices bolster its \u200bappeal as a reserve asset.<\/div>\n<div>Ghana, Africa\u2019s biggest gold producer, launched \u200bits purchase programme in 2022.<\/div>\n<div><\/div>\n<div>It agreed with miners, via \u2060the Ghana Chamber of Mines, that they would supply \u200b20% of annual output to the central bank.<\/div>\n<div><\/div>\n<div>Holdings rose to 19.2 \u200bmetric tons in February, Bank of Ghana data show.<\/div>\n<div><\/div>\n<div>The government revamped the programme in February, targeting up to 157 tons (15 months of import cover) \u200bby 2028 and launched negotiations with miners, including Newmont, Gold Fields \u200band China&#8217;s Zijin, to increase purchases.<\/div>\n<div><\/div>\n<div>Under the agreement, large miners will sell \u200c30% \u2060of their gold output to the state entity Gold Board, known as GoldBod, in dore form.<\/div>\n<div><\/div>\n<div>Purchases will be discounted at 0.55% of the central bank&#8217;s reference rate and settled in Ghanaian \u200bcedis.<\/div>\n<div>The arrangement is \u200balso designed \u2060to help Ghana secure London Bullion Market Association accreditation for at least one domestic refinery by \u200b2030, the statement said.<\/div>\n<div>Gold from the scheme will \u200bbe \u2060refined locally before being shipped to a LBMA refinery for melting and stamping before being added to central bank reserves.<\/div>\n<div>GoldBod already \u2060purchases the \u200bentire output of Ghana&#8217;s artisanal gold \u200bminers.<\/div>\n<div><\/div>\n<div>Increased gold reserves protect the country against external shocks and can be sold abroad \u200bto generate dollar income.<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n<\/div>\n","protected":false},"featured_media":23934,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-38066","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Central banks are increasingly stockpiling bullion as high prices bolster its \u200bappeal as a reserve asset.","published_date":"","news_description":"Central banks are increasingly stockpiling bullion as high prices bolster its \u200bappeal as a reserve asset.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/38066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/38066\/revisions"}],"predecessor-version":[{"id":38067,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/38066\/revisions\/38067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/23934"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=38066"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=38066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}