Resource Nationalism Surges Across Africa as Governments Tighten Control
A wave of resource nationalism is reshaping Africa’s mining landscape, as governments from across the region are moving to increase their share of mineral revenues through radical policy reforms.
Rising global commodity prices and historical highs have prompted African nations to capture a greater share of profits from their own respective natural resources.
Now, policymakers are revisiting mining codes that were often drafted decades ago, arguing that previous frameworks allowed foreign companies to extract significant wealth while contributing relatively little to national development.
West Africa tightens mining rules
The latest reforms are most visible across West Africa, where several countries have recently revised mining legislation.
Ghana implemented a new royalty regime this week, introducing a sliding scale ranging from 5 percent to 12 percent depending on gold prices. The government is also planning to phase out long-term mining stability agreements by 2027.
Those agreements historically helped companies limit fiscal uncertainty over large investments such as mine expansions and processing upgrades.
Mali took even more aggressive steps with its 2023 mining code, which increased the government’s potential equity stake in new mining projects to as much as 35 percent and raised royalty rates from a maximum of 6.5 percent to 10 percent.
The country also established a state-owned enterprise, SOPAMIM, to manage government equity stakes in mining operations.
The stricter framework initially allowed Mali to recover about US$1.2 billion in arrears from mining companies following audits and negotiations.
But the new rules have also coincided with operational disruptions. The country’s gold mine supply fell by 19 percent in 2025 to 81.2 metric tons after a prolonged dispute with Barrick Mining (TSX:ABX,NYSE:B) over the Loulo-Gounkoto complex temporarily halted operations.
Although a settlement was eventually reached, the standoff cost the government millions of dollars in lost taxes and royalties while Barrick reported roughly US$430 million in fees and an estimated US$1.9 billion in lost revenue.
Neighboring Burkina Faso has also revised its mining laws, introducing a sliding royalty scale and raising the government’s stake in mining projects to 15 percent while allowing an additional 30 percent to be held by domestic investors.
The country has also mandated that at least half of production be processed domestically, part of a broader push to develop local mining industries.
Despite the tighter regulations, some projects have continued moving forward. West African Resources (ASX:WAF,OTCPL:WFRSF) brought its Kiaka gold project into production in 2025 after restructuring its ownership to comply with the new rules.
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