Miners face a new push for local control of Africa's gold

By Moses Mozart Dzawu and William Clowes Bloomberg News Wednesday, April 1, 2026 A three-decade-old Ghanaian mine owned by Gold Fields has become a bellwether for the west African nation's ambitions to boost local ownership in a key sector. Mature mines -- unloved by multinational operators and in need of a new lease of life -- should be perfect candidates for takeovers by homegrown companies in Africa's biggest gold producer. ... Dispatch continues below ... ... ADVERTISEMENT ... First Majestic Mines Silver and Gold,  Mints Its Own Silver Bars, Ingots, Coins, and Medallions, and Sells Them Online at Low Premiums First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver and Gold Mine, the San Dimas Silver and Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon gold project in northeastern Nevada, U.S.A. In 2025 these mines are projected to produce between 27.8 to 31.2 million silver-equivalent ounces, consisting of 13.6 to 15.3 million ounces of silver and 129,000 to 144,000 ounces of gold, with an all-in sustaining cost of $19.89 to $21.27 per payable silver-equivalent ounce. For more information about the company, visit: https://www.firstmajestic.com In a practice unique to First Majestic, the company is proud to manufacture exceptional silver bullion products from its 100%-owned and operated minting facility, First Mint, offering a portion of its own silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at the company's bullion store at low premiums. To review First Mint’s full product range, visit: https://www.firstmint.com Yet elevated bullion prices mean that even old assets are coveted by international players with deep pockets. When Newmont offloaded the Akyem project in 2024, domestic businesses couldn't compete with the $1 billion offered by China's Zijin Mining. To avoid being priced out this time around, Ghana's government has limited a tender for Gold Fields' Damang mine -- which will be transferred to the state on April 18 -- to companies wholly owned by its own citizens. ... ... For the remainder of the report: https://www.bloomberg.com/news/newsletters/2026-04-01/ghana-looks-for-ways-to-keep-mineral-wealth-local-with-gold-fields * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png