Ghana, Africa's largest gold producer, has implemented new regulations banning foreigners from participating in its gold trading market, effective May 1, 2025. The Ghana Gold Board announced that foreign nationals will no longer be allowed to buy, sell, or export artisanal gold directly. This policy aims to better regulate the gold sector, curb smuggling, and increase national revenue. In addition, the Ghanaian government has taken control of Gold Fields' Damang mine, as confirmed by the Ministry of Lands. These measures reflect Ghana's broader strategy to assert greater control over its gold resources and enhance the economic benefits derived from the sector. Over the past two decades, West Africa has added 95 million ounces of gold, surpassing the combined output of Canada and Australia, highlighting the region's growing importance in global gold production.

Malian authorities have closed the office of Canadian mining company Barrick Gold in the capital city of Bamako due to alleged non-payment of taxes, according to sources familiar with the matter. This action marks an escalation in a prolonged dispute between Mali and Barrick Gold over mining revenues. The Malian government has also threatened to seize Barrick Gold's assets amid the ongoing conflict. Separately, Ghana has taken control of the Damang mine operated by Gold Fields after rejecting the company's application to extend its lease, reflecting broader tensions in the West African mining sector.

Amnesty International has raised concerns about the increasing risk of human rights violations in Ghana due to accusations of witchcraft. Hundreds of individuals, particularly elderly women, face threats of physical attacks and even death as a result of these allegations. The organization has called on Ghanaian authorities to take action to protect those accused, highlighting the severity of the situation. Additionally, a study on ritual murders in Ghana and Kenya revealed that over 50% of reported ritual killings in 2022 involved children, underscoring broader issues of violence linked to such accusations in the region.

Gold Fields' share price declined by 6.3% on the Johannesburg Stock Exchange (JSE) following the Ghanaian government's directive to cease operations at the Damang Mine. The government has instructed Gold Fields to vacate the mine lease area by April 18, 2025, after rejecting the company's lease renewal request. This development marks a significant setback for Gold Fields, which has been operating in Ghana. Additionally, Ghana has announced a ban on foreign traders from the local gold market, effective April 30, 2025, as part of a strategy to stabilize the currency and regulate the artisanal gold trade through the newly established Ghana Gold Board. This move aims to curb illegal mining activities and improve foreign exchange reserves.

Ghana, Africa's largest gold producer, has implemented new regulations banning foreigners from participating in its gold trading market, effective May 1, 2025. The Ghana Gold Board announced that foreign nationals will no longer be allowed to buy, sell, or export artisanal gold directly. This policy aims to better regulate the gold sector, curb smuggling, and increase national revenue. In addition, the Ghanaian government has taken control of Gold Fields' Damang mine, as confirmed by the Ministry of Lands. These measures reflect Ghana's broader strategy to assert greater control over its gold resources and enhance the economic benefits derived from the sector. Over the past two decades, West Africa has added 95 million ounces of gold, surpassing the combined output of Canada and Australia, highlighting the region's growing importance in global gold production.

Malian authorities have closed the office of Canadian mining company Barrick Gold in the capital city of Bamako due to alleged non-payment of taxes, according to sources familiar with the matter. This action marks an escalation in a prolonged dispute between Mali and Barrick Gold over mining revenues. The Malian government has also threatened to seize Barrick Gold's assets amid the ongoing conflict. Separately, Ghana has taken control of the Damang mine operated by Gold Fields after rejecting the company's application to extend its lease, reflecting broader tensions in the West African mining sector.

Amnesty International has raised concerns about the increasing risk of human rights violations in Ghana due to accusations of witchcraft. Hundreds of individuals, particularly elderly women, face threats of physical attacks and even death as a result of these allegations. The organization has called on Ghanaian authorities to take action to protect those accused, highlighting the severity of the situation. Additionally, a study on ritual murders in Ghana and Kenya revealed that over 50% of reported ritual killings in 2022 involved children, underscoring broader issues of violence linked to such accusations in the region.

Gold Fields' share price declined by 6.3% on the Johannesburg Stock Exchange (JSE) following the Ghanaian government's directive to cease operations at the Damang Mine. The government has instructed Gold Fields to vacate the mine lease area by April 18, 2025, after rejecting the company's lease renewal request. This development marks a significant setback for Gold Fields, which has been operating in Ghana. Additionally, Ghana has announced a ban on foreign traders from the local gold market, effective April 30, 2025, as part of a strategy to stabilize the currency and regulate the artisanal gold trade through the newly established Ghana Gold Board. This move aims to curb illegal mining activities and improve foreign exchange reserves.