Ghana will launch a new gold royalties scheme on Tuesday.

CoinFeed reported on March 9th, citing Reuters, that the head of Ghana's (Africa's largest gold producer) mining regulator stated that Ghana will proceed with a new floating royalty mechanism on Tuesday, linking national revenue to rising gold prices. Last week, it was reported that the US and other Western governments had taken a rare joint action to persuade Ghana to suspend this policy. This new royalty system will replace Ghana's previous uniform 5% tax rate. According to framework documents reviewed by Reuters, under the floating rate system, gold miners will pay a 12% royalty when the gold price reaches $4,500 per ounce. Lithium royalties will also be adjusted to a price-linked floating range of 5% to 12%, corresponding to a price range of $1,500 to $3,200 per ton, while all other minerals will maintain a fixed 5% tax rate.