Ghana, Africa’s top gold producer, has launched its most comprehensive mining audit in a decade to recover lost revenue and strengthen oversight of the sector, according to a government letter seen by Reuters.
The nationwide audit, which begins on November 1, 2025, will target leading mining firms including Newmont, AngloGold Ashanti, Gold Fields, Perseus, Asante Gold, and China’s Zijin. It will be conducted by government auditors, forensic accountants, and independent consultants under the supervision of the Minerals Commission.
The exercise will examine production volumes, mineral flows, tax and royalty payments, and environmental compliance. Mining companies have been directed to submit 10 years of production logs, three years of financial records, and all relevant permits and shipping documents by October 31.
The audit comes amid rising global gold prices, which hit a record $4,380 per troy ounce in October. Ghana expects gold output to climb to 5.1 million ounces this year, up from 4.8 million, helping stabilize the economy after its worst financial crisis in decades.
Officials say the first phase will begin with Gold Fields’ Damang mine in November, followed by Perseus and Xtra-Gold by mid-2026. Individual company reports are to be completed within 30 days of each site visit.
Economist Said Boakye from the Institute for Fiscal Studies said the move is vital for accountability. “Audits like this should not happen every decade but every year. That is how to build a strong tax policy and unlock the sector’s true revenue potential,” he stated.
The government is also reforming mining laws to shorten licence terms and ensure direct revenue sharing with host communities.
