According to sources, Ghana's mining regulator has formally required multinational giants such as Newmont Mining, AngloGold Ashanti, and Zijin Mining to transfer their mining operations to local contractors by December 2026.

Under Ghana's revised localization rules in 2025, open-pit mining operations must be undertaken by companies that are 100% Ghanaian-owned, while underground mining requires at least 50% local shareholding.

The regulator has explicitly rejected Newmont's application for an extension to 2027 and warned that companies failing to comply on time will face sanctions including "huge fines" and even mine closures.

This tough directive is the latest manifestation of rising resource nationalism in Ghana.

Previously, Ghana launched its strictest mining audit in a decade and plans to abolish long-term investment stability agreements while raising the royalty cap to 12%, aiming to capture more national revenue from soaring gold prices.

Not looking good.