Ghana is set to launch a new floating royalty mechanism for gold on Tuesday, linking national revenue to fluctuating gold prices. This move, announced by the head of Ghana's mining regulator, will replace the previous uniform 5% tax rate. Under the new system, gold miners will pay a 12% royalty when gold prices reach $4,500 per ounce. The change comes despite recent pressure from the US and other Western governments to halt the policy. Additionally, the scheme will adjust lithium royalties to a floating range of 5% to 12%, based on a price range of $1,500 to $3,200 per ton. Other minerals will continue to be taxed at a fixed rate of 5%. Ghana, Africa's largest gold producer, aims to increase its revenue through this innovative approach.