**African States Push for Greater Control Over Mineral Wealth**
African gold producers are advocating for increased sovereignty over their mineral resources as governments aim to retain a larger share of the economic benefits derived from their wealth. This sentiment was expressed by Prince Kwame Minkah, a representative of the Ghana Gold Board (GoldBod), during an interview with RT.
Minkah emphasized that many African nations are shifting away from a traditional model where minerals are extracted domestically, yet the majority of processing, certification, trading, and financing occurs abroad. This transition is part of a broader initiative across the continent to achieve resource sovereignty and enhance local value addition.
“If we produce the mineral, why should we capture only the value extraction while other countries continue to capture the value processing and, for that matter, trading?” Minkah questioned, highlighting the need for African nations to benefit more directly from their natural resources.
Ghana, recognized as one of the leading gold producers in Africa, is tightening its grip on its gold sector. Beginning September 1, all gold doré purchased by self-financing aggregators under agreements with approved offtakers must be refined in Ghana prior to export. This new regulation aims to ensure that more of the economic value generated from gold production remains within the country.
Other African nations are also taking similar steps to enhance control over their gold resources. For instance, Guinea has mandated domestic gold refining, while Mali is expanding local processing capabilities. Burkina Faso has increased state purchases of artisanal gold through its National Precious Substances Company, and Tanzania has implemented stricter regulations on the gold trade, requiring exporters to sell a portion of their output to the central bank.
These initiatives align with the broader vision of Ghanaian President John Dramani Mahama, who aims to eliminate raw mineral exports by 2030. As part of this strategy, Ghana has bolstered its state involvement in the gold trade through the establishment of GoldBod in 2025, which has been granted exclusive authority over the purchase and export of artisanal and small-scale gold.
According to the Ghana Chamber of Mines, Ghana has solidified its position as the sixth-largest gold producer globally, following China, Russia, Australia, Canada, and Peru. In 2025, the country produced approximately 185 tons of gold, reflecting a significant increase of 23.41% from its 2024 production of 4.82 million ounces. This achievement marks Ghana as the only African nation within the global top ten gold producers and maintains its status as the continent's largest gold producer.
As African countries continue to advocate for greater control over their mineral wealth, the push for resource sovereignty is likely to reshape the landscape of mineral extraction and processing in the region. The growing emphasis on local value addition and domestic refining may lead to increased economic benefits for these nations and a shift in the dynamics of global mineral markets.