PANews reported on March 5th, citing Reuters, that three sources familiar with the matter and a letter from an industry body indicate that the US and other Western governments have launched a rare coordinated effort to urge Ghana to halt its increase in gold royalties. They believe this move could harm the interests of some of the world's largest mining companies. As Africa's largest gold producer, Ghana wants to change its current fixed 5% tax rate to a tiered rate ranging from 5% to 12%, linked to gold prices. This move aims to generate more revenue from the record-high gold prices. Mining companies say the new system could take effect as early as next week unless it is modified or revoked. Its highest tax rate would make Ghana one of the most expensive mining regions on the continent and could squeeze profit margins.

Three senior mining executives described such high-level diplomatic intervention in response to a financial proposal as highly unusual. One senior industry figure stated, "This is the first time I've seen such a large-scale involvement from the diplomatic sphere." Two individuals with direct knowledge of the meetings revealed that representatives from various missions met with Ghana's Minister of Land and Natural Resources this month and submitted a joint document outlining their concerns.