Ghana Mining Reform 2026: Phasing Out Stability Pacts and Doubling Royalties | Agrifocus Africa

Ghana plans radical mining reforms in 2026 — ending long-term stability agreements and significantly increasing royalty rates to benefit local industry and national revenues.

Ghana, Africa’s leading gold producer, has unveiled a landmark mining policy overhaul aimed at capturing more value from its mineral wealth while balancing investor confidence and long-term sector sustainability. Under the proposed reforms, the government will terminate long-term mining stability agreements — some locked in for up to 15 years — that historically guaranteed fixed tax and royalty terms in exchange for foreign investment. These pacts will be replaced with a more dynamic royalty regime linked to global gold prices and greater local content requirements.

At the core of the reforms is the doubling of royalty rates, starting at 9% and increasing to 12% if gold prices exceed $4,500 per ounce. This shift reflects a growing emphasis from Accra on national benefits from booming commodity markets. The policy aims to ensure that rising gold prices translate directly into higher revenue streams for Ghana, funding critical public services and infrastructure.

Mining companies such as Newmont, AngloGold Ashanti and Gold Fields — currently operating under existing stability agreements — are poised to navigate a new fiscal landscape that prioritizes national gains while seeking to preserve investor certainty. The reforms also strengthen local business participation by tightening rules on local content, procurement and services supplied by Ghanaian firms, providing smaller domestic enterprises a larger role in the mining ecosystem.

For Ghana’s mining industry, this marks a defining moment: balancing enhanced sovereign revenue capture with the strategic need to maintain competitiveness in the global market. Industry stakeholders will be watching closely as the legislation moves toward parliamentary approval in early 2026