Mining.com March 9 News, according to Reuters, the head of Ghana's (Africa's largest gold producer) mining regulatory agency stated that Ghana will advance a new gold royalty floating mechanism on Tuesday, which will link national revenue to the rising gold prices. Last week, reports indicated that the US and other Western governments had rarely acted in concert to try to persuade Ghana to suspend this policy. This new royalty system will replace Ghana's previous uniform 5% tax rate. According to the framework document reviewed by Reuters, under the floating tax rate system, when the gold price reaches $4,500 per ounce, gold miners will be required to pay a 12% royalty fee. The royalty fee for lithium will also be adjusted to a floating range of 5% to 12% linked to prices, corresponding to a price range of $1,500 to $3,200 per ton, while all other minerals will remain at a fixed 5% tax rate.