Newmont CEO Natascha Viljoen told the Joburg Indaba in Johannesburg that Ghana's mining landscape has "definitely changed," as the government under President John Mahama overhauls the fiscal regime. New royalty rules include a 12% levy on gross revenue when gold reaches $4,500/oz — plus a 1% community levy — replacing the former 5% flat royalty, and Newmont's Ahafo stability agreement was not renewed when it expired last year. With Ghana accounting for about 12% of Newmont's production, Viljoen said miners need certainty to keep investing.