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Ghana, the leading gold producer in Africa, is changing its gold tax system to benefit from the rising global gold prices. Instead of the old flat royalty rate, the government is introducing a new sliding scale of 5% to 12%. This means they will collect more when gold prices are high, giving the country a better chance to tap into the current surge. 💰

To keep mining companies happy, Ghana has also decided to reduce the Growth & Sustainability Levy by 2%. While it’s not a complete removal, it’s a move to show they’re willing to ease the pressure on the industry. ⚖️

However, mining giants are not entirely convinced. They’ve raised concerns that if the royalty rates increase too sharply, it could scare off investments and slow down growth. With so many other countries offering better tax policies, some worry miners might look elsewhere. 🚨

This change reflects a growing trend where countries rich in natural resources are trying to get a larger piece of the pie from rising commodity prices, but they also need to ensure they don’t drive businesses away. Time will tell how this will impact Ghana’s mining industry, but it’s definitely a major step towards balancing profits with industry growth. ⏳🌍

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