Ghana has begun its most extensive audit of the mining industry in more than a decade.
This is a sweeping review that signals a new era of accountability in Africa’s top gold-producing country.
The move comes as governments across the continent step up efforts to reclaim greater control over natural resources and capture more domestic value from global commodity markets.
According to a government communication seen by Reuters, the Minerals Commission will lead the nationwide audit from November 2025 to June 2026, deploying teams of government auditors, forensic accountants, and independent consultants to scrutinise production volumes, mineral flows, tax and royalty payments and environmental compliance.
The exercise will begin with Gold Fields’ Damang mine and Perseus Mining operations in November, before moving to Newmont, AngloGold Ashanti, Zijin Mining, Asante Gold and others, concluding with Xtra-Gold’s Kibi mine in mid-2026.
Officials say the initiative is designed to close long-standing reporting gaps, recover lost revenue, and strengthen trust in sector governance.
Mining remains a cornerstone of Ghana’s economy, generating GH¢17.7 billion ($1.68 billion) in 2024 after output surged by 25.1%, with production projected to hit 5.1 million ounces this year.
Ghana’s audit comes amid a continent-wide wave of reforms as African governments move to reclaim strategic control of extractive industries.
In Zimbabwe, lithium contracts are being restructured to increase local processing. In the Democratic Republic of Congo (DRC), cobalt agreements are under review to improve state revenues, while the Alliance of Sahel States comprising Mali, Burkina Faso, and Niger is advancing nationalisation measures that have already seen some foreign operators exit.
Together, these shifts signal a broader redefinition of Africa’s resource politics; one where governments are asserting fiscal sovereignty, enforcing stricter oversight, and tying mining licences to community and environmental obligations.
While the audit has drawn commendation for its potential to enhance transparency, experts caution that poor communication or perceived arbitrariness could unsettle investors.
The challenge for Accra, analysts say, lies in enforcing credible rules without eroding investor confidence.
If well executed, the audit could yield higher royalties, better environmental compliance and stronger local job creation, especially as the Ministry of Lands and Natural Resources pushes for shorter licence terms and mandatory host-community agreements.
But a heavy-handed approach, some warn, could trigger capital flight at a time when Ghana needs sustained investment to stabilise its post-debt restructuring recovery.
With global gold prices hovering near record highs and investor attention shifting toward responsible sourcing, Ghana’s mining audit positions the country at the centre of Africa’s resource governance reset.
If the process yields measurable gains in transparency and local participation, it could redefine how African resource economies negotiate value and cement Ghana’s role as a policy leader in the continent’s next mining frontier.
Credit-Reuters
