Gold Bulls Optimistic About 2026 Outlook – International Edition

By Kizito CUDJOE

Ghana's mining sector anticipates maintaining record-high gold outputs in 2026, with estimates ranging from 6.1 million to 6.9 million ounces, as both major and minor miners boost their activities, reports the Ghana Chamber of Mines.

The chamber predicts significant gold output ranging from 3.2 million ounces to 3.4 million ounces for this year, whereas production from the informal sector is anticipated to fall between 2.9 million ounces and 3.5 million ounces.

Should they be implemented, these forecasts would highlight the increasing significance of artisanal mining within the nation's gold sector, as this part of the industry could match or surpass production levels achieved by major operations.

The forecast comes after a significant year in 2025, during which production from small-scale miners surpassed that of major producers for the first time in over a hundred years.

Speaking to stakeholders at the 98th session of the Ghana Chamber of Mines' event ^th Annual General Meeting (AGM) held in Accra, former Chamber President Michael Edem Akafia stated that the nation achieved widespread growth in its conventional minerals during 2025 – with significant increases observed in gold output.

The amount of gold produced that can be attributed rose by 23.41% from 4.82 million ounces in 2024 to 5.94 million ounces in 2025, mainly due to a significant rise in output from the artisanal mining industry.

Gold extraction at a smaller level increased by 63.82 percent, moving from 1.90 million ounces to 3.11 million ounces, thanks to initiatives such as the creation of the Ghana Gold Board. Consequently, artisanal mining contributed 52.4 percent of total country output, surpassing major-scale miners for the first time in over a hundred years," he stated.

In comparison, major gold manufacturing fell by 2.98 percent, dropping from 2.92 million ounces in 2024 to 2.83 million ounces in 2025, which decreased its portion of total domestic production from 60.6 percent to 47.6 percent.

Despite the drop in total large-scale output, the member firms affiliated with the chamber produced 2.77 million ounces in 2025, down from 2.86 million ounces in 2024, marking a decrease of 3.08 percent.

Mr. Akafia cited reduced production levels in most facilities, except for the Asanko Gold Mine and AngloGold Ashanti's Obuasi Mine.

The output from the large-scale operation was backed by Newmont's Ahafo Mine, Cardinal Resources Limited's Namdini Mine, and Zijin's Akyem Mine after it was acquired by Zijin from Newmont in 2025.

Additional major open-pit mines saw a slight rise in production, going from 55,000 ounces in 2024 to 57,000 ounces in 2025, indicating an increase of approximately 2 percent. However, their portion of total national output fell from 1.2 percent to 1.0 percent.

The robust showing of the gold industry aligned with one of the most impressive economic expansion periods in recent times.

The actual gross domestic product (GDP) rose from GH¢197.86 billion in 2024 to GH¢209.64 billion in 2025, showing an increase of 5.95 percent, up slightly from 5.85 percent recorded the prior year.

One of the most successful areas within the economy was the gold mining sector, which grew by 19.6 percent, primarily fueled by an increase in artisanal gold output.

The proportion of Gold in GDP rose from 7.97% in 2024 to 9.98% in 2025, becoming the leading component of the economy. Its portion inside the larger manufacturing industry also grew from 13.8% to 14.8%.

In addition to gold, manganese production grew from 5 million tons in 2024 to 5.2 million tons in 2025, marking an increase of 3.83 percent, whereas bauxite output climbed by 21.9 percent.

However, diamond output fell significantly from 332,297 carats in 2024 to 197,233 carats in 2025, representing a decrease of 40.65 percent.

The drop was blamed on lower natural diamond prices, growing rivalry from man-made diamonds, and weak worldwide demand.

In 2026, it is anticipated that manganese will be produced between 5 million metric tons and 6 million metric tons, whereas bauxite output is predicted to fall within the range of 2.5 million metric tons to 3 million metric tons. The estimated diamond production for the same period lies between 150,000 and 250,000 carats.

Mr. Akafia warned that the future of the mining industry hinges on clear policies, changes in regulations, prompt renewal of licenses, better management of artisanal mining operations, and sustained funding throughout the mineral supply chain.

His comments occur during an active discussion about the trajectory of the mining sector, involving the government's policy on contract mining, lingering problems with renewal of mining leases, and growing demands for increased local involvement in owning and managing mineral assets.

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, stated that the government remains committed to seeing mining as a key component of economic development and a significant contributor to foreign currency income.

"In line with our mid-term growth plan, the sector has been given priority within our overall strategy aimed at stabilizing the economy, encouraging manufacturing expansion, and enhancing preparedness for worldwide disruptions," he stated.

The official stated that the government is implementing changes designed to increase regulatory clarity and boost operational effectiveness within the industry.

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Budget Transparency Plummets to 22% in Global Survey

Ghana's level of budget openness has dropped sharply from 46% in 2023 to 22% in the most recent Open Budget Survey, positioning the nation significantly under the sub-Saharan African mean of 38%.

As stated in a press statement from SEND Ghana, this raises worries regarding transparency in handling national assets.

The 2025 Open Budget Index, published by the International Budget Partnership (IBP) together with SEND Ghana, examines 82 nations regarding fiscal openness, citizen engagement, and monitoring processes.

The study indicated that the country's significant drop in openness—the key factor—means residents and civic organizations now have much less data available to examine how taxpayer money is collected and utilized.

As per the study, which utilized independent expert evaluations and peer examinations, Ghana fell behind due to postponements in releasing fiscal reports. The report highlighted that these papers are crucial for monitoring public spending as it happens.

A score of 22 percent indicates that the government is offering very little information," the report stated, noting that the absence of up-to-date data "hampers the capacity of parliament, press, and regular people to ensure the executive branch remains responsible.

Although transparency declined, Ghana showed minor progress in the remaining two metrics assessed. The level of public involvement increased from 17 percent in 2023 to 22 percent in 2025, indicating a small rise in chances for engagement.

Nevertheless, the survey noted that these efforts are still constrained: members of the public and non-governmental organizations continue to be mostly left out of budget discussions and ongoing oversight of project execution.

Ghana's budget monitoring score increased from 28% in 2023 to 33% in 2025. As per the study, this enhancement is attributed to greater frequency of audit-related interactions.

Nevertheless, it emphasized that supervision is still inadequate — highlighting that Ghana does not yet have an autonomous financial body capable of delivering impartial assessments and legislative review of the budget formulation and implementation process, which continues to be insufficient.

SEND Ghana once again urged for immediate changes to stop more loss of financial openness. To bring back clarity, increase public involvement, and improve monitoring, the Open Budget Survey suggested that the government should make all eight important budget papers available online promptly and ensure regular publication of In-Year Reports.

It called on the state to broaden parliamentary budget reviews so they incorporate input from civil society groups, marginalized populations, and the wider community, as well as create systems enabling these entities to track how budgets are carried out.

The study further suggested establishing an autonomous financial body to offer unbiased budget evaluation and enhance Parliament's ability to monitor the development and implementation of budgets.

The 2025 study includes 82 nations and continues to be the sole unbiased, comparative, data-driven tool for evaluating financial openness worldwide. SEND GHANA, which worked on the Ghana evaluation, renewed its appeal for immediate changes to stop additional loss of fiscal clarity.

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Brittany Higgins Takes on New Advocacy Role Against Rising Misogyny in Australia

Brittany Higgins has taken up a new position as the executive director of the Vida Fund, signaling her first significant role following her departure from a leading PR firm after only five months.

The position at the activist organization will have Higgins concentrate on 'combating the increase of sexism and right-wing political groups in Australia'.

A previous government employee plans to start a campaign targeting Pauline Hanson's One Nation party, although her critiques will extend beyond right-wing politics.

"One Nation along with the emerging far-right is attempting to normalize sexism in a way that Australians have not witnessed previously," Higgins stated in a release.

With [One Nation MP] Barnaby Joyce advocating for this American-style conflict against reproductive freedoms, it has become increasingly crucial to mobilize and respond.

More to come.

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Kyodo News Brief: June 11, 2026

TOKYO - Here is the most recent compilation of curated news briefs from Kyodo News.

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Japan outlines its position to Pakistan following Islamabad and Beijing expressing concern over military actions.

TOKYO - Japan has clarified its position on defense matters with Pakistan following a recent joint declaration from China and Pakistan expressing opposition to "any efforts by fascism or militarism to resurface," according to diplomatic sources on Wednesday.

A statement issued on May 26 following discussions in Beijing between Chinese President Xi Jinping and Pakistani Prime Minister Shehbaz Sharif was interpreted as a rebuke toward Japan's attempts to enhance its military strength, as China has increased its scrutiny of Japan globally.

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Xi rejected efforts to "rekindle militarism" during his visit to North Korea: Xinhua

BEIJING – During his recent trip to North Korea, Chinese President Xi Jinping voiced disapproval of efforts to "rekindle militarism," along with "hegemonistic behavior and power-based politics," according to an announcement from the state-run Xinhua News Agency on Wednesday. The leader seemed to be alluding to Japan and the United States.

President Xi's statements during a welcoming dinner held by North Korean leader Kim Jong Un in Pyongyang on Monday occurred against the backdrop of Beijing increasing its scrutiny of Tokyo's military expansion efforts promoted by Prime Minister Sanae Takaichi, following a recent dispute involving her remarks about Taiwan.

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A bear was spotted close to the Amanohashidate scenic area in Kyoto Prefecture

KYOTO – A bear was caught during the evening hours on Wednesday close to Amanohashidate, which is among Japan's three most beautiful locations, according to authorities.

Someone contacted emergency services at approximately 4:35 p.m. on Wednesday, reporting that a bear was seen and ran towards a sandy area covered with pine trees in the popular tourist zone, as stated by the authorities.

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Former lower house speaker Kono, famous for his statement of remorse toward "comfort women," passes away

TOKYO – Yohei Kono, former head of the House of Representatives and former Foreign Minister, who gained recognition for delivering the Japanese government’s significant apology regarding the Korean “comfort women” compelled to serve in Japan’s military brothels during World War II, passed away, according to sources from his family on Wednesday. He was 89 years old.

As chief Cabinet secretary during the time of former Prime Minister Kiichi Miyazawa in 1993, Kono, who passed away on Monday, released an official declaration recognizing the role of the Japanese military in recruiting "comfort women," typically via force, as well as overseeing places where these individuals were held.

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Head of BOJ admitted to hospital, will skip upcoming policy gathering next week

TOKYO - The governor of the Bank of Japan, Kazuo Ueda, has been admitted to the hospital due to an infection related to a liver cyst and will be unable to attend a monetary policy meeting scheduled for next week, according to the central bank on Wednesday.

Deputy Governor of the BOJ, Ryozo Himino, will lead the two-day gathering starting on Monday, whereas Deputy Governor Shinichi Uchida will conduct the press briefing following the meeting, according to the bank.

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Japan and Malaysia decide to enhance collaboration in energy and maritime safety.

TOKYO - Prime Minister Sanae Takaichi met with Malaysia's leader Anwar Ibrahim during discussions held in Tokyo on Wednesday, where they committed to enhancing collaboration in areas of energy and oceanic safety. This comes as Japan aims to broaden its sources of energy due to ongoing tensions in the Middle East.

Following the summit, Takaichi told journalists that discussions regarding defense matters involved the signing of an agreement between coast guards designed to guarantee secure and unrestricted passage through local waterways. Both countries support the concept of a free and open Indo-Pacific, as Beijing's presence in the area continues to expand.

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Japan is wrapping up talks with the United States to maintain imports of Russian liquefied natural gas.

TOKYO – Japan is wrapping up talks with the U.S. Treasury Department to prolong an exception that enables businesses to handle dealings connected to the Sakhalin 2 petroleum and natural gas venture in Russia’s eastern region, where Japanese companies have investments, according to several sources on Wednesday.

As the June 18 deadline nears, this action seeks to maintain the ongoing import of crude oil and liquefied natural gas, according to the sources, with cargo flows from the Middle East to Japan having dropped significantly due to an effective blockage of the Strait of Hormuz.

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Rugby: Jones selects 35 players for Japan's training team, expresses regret for recent outburst

TOKYO - Veteran forward Michael Leitch, Toulouse's scrum-half Naoto Saito, and Japan Rugby League One's Rookie of the Year Shunsuke Uenobo are part of a group of 35 athletes selected on Wednesday by head coach Eddie Jones for the Brave Blossoms' preparation camp ahead of an upcoming series of test games beginning next month.

A 66-year-old coach started his news briefing in Tokyo by delivering an apology for his "verbal mistreatment" of home referees during the Japanese U23 team's trip to Australia in April, which resulted in the Japan Rugby Football Union imposing a ban and salary reduction on him.

Apple Agrees to Major Change: "Kill Switch" to End Stolen Mobile Trade

The rapid growth of the illegal phone trading market has suffered a major setback due to a technological breakthrough.

Apple has consented to implement a "kill switch" that will render stolen devices unusable.

A major technology company updated the configurations on its mobile devices globally after an initiative spearheaded by the United Kingdom's highest-ranking police official and supported by the Daily Mail.

It enables the devices to be turned off and made unable to be sold.

The step comes after London gained notoriety as the world's leading center for mobile device theft, with approximately 200 devices stolen daily.

Now, other companies are facing pressure to do the same following Scotland Yard Commissioner Sir Mark Rowley revealed he was contacting the Home Secretary to request laws compelling them to render stolen phones non-functional — disrupting a clandestine trade valued at over £50 million annually within the UK.

Law enforcement agencies aim to establish a nationwide database for stolen mobile phones, requesting major telecommunications companies to provide information on whether criminals have managed to restore these devices for resale.

Apple has become the initial technology firm to commit to modifying its security configurations worldwide, enabling anti-theft features as the standard setting to safeguard users' accounts and private data.

This stops burglars from altering passwords to regain access to a mobile network, allowing them to resell the gadget.

If the stolen phone can no longer be used, it turns into an unusable "brick".

In order to address the issue, Apple activated 'stolen device protection' as the standard option for every user through a new worldwide software upgrade for their mobile devices.

This implies that when individuals mark their phones as "lost" following theft—by accessing iCloud.com/find from an alternative device like a computer, tablet, or another person’s mobile—it functions similarly to a power-off mechanism, rendering the device unusable until the owner inputs their password again.

In a significant deal, the Metropolitan Police and Apple have agreed to exchange information regarding stolen devices, enabling the police department to locate mobile phones and determine if they resurface in the market.

As collaborative efforts started to interfere with international crime groups, Apple has experienced a major decrease in stolen devices being properly activated again.

Last evening, Sir Mark cautioned offenders: "I want to make it explicit to those involved in this criminal activity."

If you're pilfering mobile devices in London, your operational strategy is gradually falling apart.

The tech is keeping pace with you, and so are we. Our agents are tracking you on the streets, recognizing you via information, and dismantling the systems that transport stolen gadgets across the globe.

The dangers are increasing while the benefits are fading. This is no longer simple profit.

We'll locate you, apprehend you, and bring you before the court. The time has come.

He mentioned to the Daily Mail that the collaboration has the potential to eliminate the crime that has affected countless people: "We can target the core of this issue by dismantling the business structure that supports it."

Now, the remainder of the industry and government needs to take action to complete the task.

The Daily Mail was at the forefront of exposing the market for stolen phones. Last month, Scotland Yard commended a "remarkable" Daily Mail inquiry following the admission of three individuals involved in a phone-smuggling ring who confessed to an £180 million scheme.

At one point, the group was accountable for nearly 50% of mobile phones stolen in London – several of which were transported to a skyscraper in Hong Kong that was secretly examined by Daily Mail journalists during the previous summer.

A newspaper tracked stolen mobile devices originating from London, moving them through suburban British storage facilities, eventually reaching Dubai, Hong Kong, and China.

Amir Muhammad Khadikhel, aged 35, Ismat Miakhel, 33, and Mansoor Mohammed, 30, subsequently admitted guilt for trafficking 62,000 illicitly obtained mobile devices.

London experiences some of the greatest instances of mobile device theft across England and Wales.

Police have discovered ads on Snapchat where kids can be paid up to £380 for stealing one iPhone, plus an extra £100 if they manage to steal ten. Technology companies have taken their time addressing this problem because the loss of devices leads to increased purchases.

Data obtained through Freedom of Information requests reveal that just a small portion of devices are handed back to their rightful owners.

From 2017 up until February 27, 2024, approximately 587,498 mobile devices were reported as stolen in London, with just 13,998 of them being retrieved.

In March, Sir Mark presented an ultimatum demanding that the telecommunications companies act or risk facing legal measures.

During a significant enforcement operation, the police have succeeded in nearly reducing mobile phone thefts in Westminster by half this year after making numerous arrests.

The Commission stated: "I issued a deadline to technology companies — act immediately to stop used smartphones from being sold again and repurposed, or I will ask the government to intervene and create laws."

Initially, we are regularly exchanging information about lost gadgets, creating a combined view of how these phones travel and if they show up again in the market.

That collaboration is already producing results." "The alliance is beginning to have an impact." "Such cooperation is starting to show effects." "This joint effort is already yielding changes." "The partnership is proving effective so far.

If smartphones can't be turned back on after being stolen, their worth drops significantly, along with the motivation for stealing them.

Samsung and Google are currently implementing security updates to address this problem.

Kate Adams, Apple's senior vice president of government relations, stated: "We appreciate our collaboration with the Metropolitan Police and are pleased with the effect of Operation Reckoning in reducing smartphone theft throughout London."

We will keep innovating, investing, and collaborating with police authorities in the UK and globally to undermine the trade of stolen devices.

Read more

Lee Jung-hoo's 18-Game Hit Streak Drives Giants' Comeback

Lee Jung-hoo of the San Francisco Giants added another game to the streak of consecutive games with a hit by a South Korean MLB player.

Lee Jung-hoo (age 28) played as the fifth hitter and right fielder in the home match versus the Washington Nationals at Oracle Park in San Francisco, California, on the 11th (local time in Korea). In four plate appearances, he managed two hits, drew one walk, scored two runs, and stole a base. On the prior day, he established a new milestone for South Korean MLB players by achieving a hit in 17 straight games, breaking the previous records held by Choo Shin-soo and Kim Ha-seong. The next day, he further increased this streak to 18 games within a single day.

This was his 23rd game this season where he had multiple hits. Lee Jung-hoo, who has managed two or more hits in three straight matches, increased his seasonal batting average from 0.335 to 0.338. He remained in second position within the MLB batting averages and closed the distance with top performer Otto Lopez. His standing might shift based on how others performed on that particular day.

During his initial plate appearance in the bottom of the second inning, Lee Jung-hoo faced Washington Nationals' left-handed pitcher Foster Griffin but was called out on strikes. In his next at-bat during the bottom of the fourth inning, he hit a low-breaking pitch that was just beyond the strike zone and ended up grounding out to the second baseman.

Nevertheless, he ended his silence during his third time at bat. With the Giants down 1-6 in the bottom of the sixth inning and two runners out, Lee Jung-hoo struck Griffin's first-pitch curveball toward right field, managing to get a hit. Even though the ball was low and just beyond the strike zone, his exceptional bat control transformed it into an effective hit. This single increased his streak of consecutive games with a hit to 18, starting from the match against the Los Angeles Dodgers on the 15th of last month.

At the end of the eighth inning, his speed stood out. With the team down 3–9, Lee Jung-hoo received a walk and swiftly advanced to second base—his third steal of the season. Later, he scored when Daniel Soo-yuk hit an RBI single, keeping the rally going.

The peak of excitement occurred during the bottom of the ninth inning. With a score of 7–10 against them, and two runners on base without any outs, the Giants relied on Lee Jung-hoo. The Nationals opted to bring in lefty pitcher Mitchell Parker to challenge the left-handed hitter. Even though he was behind in the count, Lee Jung-hoo managed to hit a pitch just beyond the strike zone into left field, resulting in a single that filled the bases with no one out. The next player at bat, Bryce Eldridge, delivered a walk-off home run that scored four runs. This led to an 11–10 thrilling win for the Giants.

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KOSPI Volume Crashes to 500 Million Shares

With South Korea's stock market experiencing significant fluctuations between steep drops and rapid increases each day, investor confidence is beginning to wane.

As reported by the Korea Exchange on the 11th, the typical daily transaction amount in the KOSPI market for this month reached 504.49 million shares, representing the smallest monthly average so far this year. This reflects a drop of 42 percent when contrasted with the mean daily trade volume of 869.2 million shares observed between January and May. The average daily trading level hit a high of 1.10766 billion shares in March, followed by reductions to 947.18 million shares in April, 698.79 million shares in May, and now stands near 500 million shares this month.

A decline in trade volume, an essential measure of market liquidity, is clearly visible. Trade volume hit a high of 80.3325 trillion South Korean won on the 29th of last month and 74.33 trillion South Korean won on the 1st of this month, yet averaged only 46.2314 trillion South Korean won during the previous week (from the 4th to the 10th). Significantly, on the 10th, as the KOSPI fell 4.52% to 7,730.82 due to significant sales from foreign investors and institutional players, trade volume decreased to 39.9448 trillion South Korean won. Within a single week, the market's liquidity was reduced by more than half.

Behind the trend of investors holding back and taking a cautious stance are broader economic uncertainties and global political conflicts. On the 10th, the U.S. Department of Labor reported that the U.S. Consumer Price Index (CPI) increased by 4.2% compared to the previous year in May—the largest rise in over three years and one month driven by elevated fuel costs. This greatly reduced hopes for a reduction in interest rates by the U.S. Federal Reserve, leading to stagnation in the stock market.

Amidst the chaos, concerns about an all-out American conflict with Iran arose. On the 10th, U.S. President Donald Trump commented after a U.S. military helicopter was shot down, saying, "Iran will face consequences for delaying," and "We'll strike forcefully today. Talks have ended." Han Ji-young, a research analyst at Kiwoom Securities, noted, "The volatility index (VKOSPI) hit a new peak between 88-91, leading traders to halt transactions completely as part of their risk control measures." Analysts predict that the market will remain stable despite limited trade volume until mid-month, when international developments are anticipated to settle.

In the meantime, concerns about significant overpricing within the New York stock market are encouraging a worldwide approach of waiting and observing. As reported by Yahoo Finance, the "Buffett Indicator," calculated by dividing the overall value of the U.S. stock market by the yearly nominal gross domestic product, has recently climbed to 232.5%. This marks the highest point recorded since GuruFocus started gathering information from 1970 onwards. It indicates that the American stock market is currently 2.3 times bigger than the nation's annual economic production, categorizing it as being in a "significantly overpriced" range according to Wall Street measures. Past patterns show that reaching such an index level often means the U.S. stock market carries a substantial chance of experiencing poor performance during the following year.

Ben Snyder, an equity analyst at Goldman Sachs, mentioned in a study, "Traders are currently buying 'high-priced shares'—stocks having price-to-revenue multiples above 10 times—which have not been observed for many years. The previous time such excessive speculation occurred was during the 2000 internet boom."

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