A press release issued on Monday, November 28 by the Canadian Asante Gold, two days after the announcement of the measure that the government of Ghana has decided to buy 20% of the gold production of mining companies, mentioned that the decision should not cause new tensions with the industry.

Vice President Mahamudu Bawumia of the government of Ghana has announced that the state wants to put the country's gold producers to work to preserve its foreign currencies. In fact, he wants to buy all or part of their production from them, in order to build up gold reserves that will serve as means of payment. Thus, in the press release issued on Monday, we note that “this initiative has been discussed with Ghana's gold producers, represented by the Chamber of Mines, for several months. Local currency spending by Asante and most mining companies far exceeds this demand.”

For their part, the Ghanaian authorities have planned to pay for gold purchased from companies in Cedi, the local currency, in order not only to build up gold reserves to pay part of government expenses, but also to save the country's precious foreign exchange reserves.