Mining – Business Week Ghana https://businessweekghana.com Accurate Relevant Revealing Wed, 04 Nov 2026 18:14:00 +0000 en-US hourly 1 https://businessweekghana.com/wp-content/uploads/2024/06/236876004_233005352166311_6788365974847027779_n-150x150.jpeg Mining – Business Week Ghana https://businessweekghana.com 32 32 Chamber of Mines Targets Mining Procurement To Boost Local Manufacturing https://businessweekghana.com/chamber-targets-mining-procurement-to-boost-local-manufacturing/ Wed, 04 Nov 2026 18:10:55 +0000 https://businessweekghana.com/?p=73935
The Ghana Chamber of Mines is advocating stronger local manufacturing capacity and partnerships between domestic businesses and international suppliers to ensure that more of the value generated by the mining industry remains in the country.

The Chamber says Ghana must move beyond relying on local companies as importers and distributors of mining supplies to building their capacity to manufacture equipment, inputs and other products required by mining operations.

Chief Executive Officer of the Ghana Chamber of Mines, Ing. Dr. Ken Ashigbe, said procurement accounted for more than 60 per cent of the value generated in the mining industry, making it a critical area for Ghana to improve its economic returns from mineral extraction.

He said the country stood to gain more if a greater proportion of mining companies’ procurement expenditure was channelled into locally manufactured goods and services rather than imported products.

Majority, over 60 per cent of that goes into procurement. And so how do we ensure that we are not exporting the value out, but we are retaining that particular value?” he said.

Dr. Ashigbe made the remarks in an interview on the sidelines of a civil society dialogue on Ghana’s mining resources organised by the Natural Resource Governance Institute (NRGI) in partnership with the Ghana Chamber of Mines in Accra.

The dialogue, held under the theme, “Ghana’s Mining Fiscal and Revenue Governance Architecture: Is Ghana Maximising Value from its Mineral Wealth?”, brought together industry players and civil society organisations to examine how Ghana could derive greater economic benefits from its mineral resources.

Dr. Ashigbe said the Chamber was considering ways to bring international suppliers and Ghanaian companies together to establish joint ventures that would facilitate technology transfer, local production and skills development.

Under the proposed arrangement, foreign suppliers could provide the technology and technical expertise while local companies and communities contribute resources and business capacity to support manufacturing activities in Ghana.

He said such partnerships would allow Ghanaian businesses to participate in higher-value activities instead of limiting their involvement to importing products and reselling them to mining companies.

He explained that the Chamber was incorporating discussions on value retention into its strategy for the coming years, with particular attention to procurement practices and opportunities for local businesses.

Fiscal policy and investment

On the fiscal framework governing the mining industry, Dr. Ashigbe said Ghana needed to maintain a balance between maximising government revenue and creating an attractive investment environment.

He noted that international benchmarks, including the International Monetary Fund’s average effective tax rate assessments, placed Ghana towards the upper end of the relevant threshold for government revenue from mining.

He said the issue was therefore not simply about increasing taxes but also ensuring consistency and predictability in the country’s fiscal policies to encourage sustained investment.

The challenge even around the fiscal is not just the high levels, but the issues around consistency and predictability,” he said.

He maintained that discussions on the mining sector’s contribution to national development should consider the entire value chain, including procurement, local employment, manufacturing and the utilisation of revenues received by government.

Dr. Ashigbe disclosed that members of the Chamber’s large-scale mining sector contributed more than GH¢24 billion to government in taxes in 2025.

He said it was important for the country to ensure that such revenues were managed effectively and invested to provide lasting benefits.

Call for long-term mineral revenue planning

Dr. Ashigbe also called for the introduction of a Minerals Revenue Management Act to provide a framework for managing revenues from the exploitation of the country’s mineral resources.

He said the proposed legislation could draw lessons from the Petroleum Revenue Management Act, particularly in establishing mechanisms to save revenues during periods of high commodity prices.

He proposed the establishment of stabilisation and heritage funds to protect government finances against fluctuations in international mineral prices while preserving part of the country’s mineral wealth for future generations.

He said the finite nature of mineral resources made it necessary for Ghana to invest the proceeds from extraction in sustainable economic activities.

Every ounce of gold you take out of the ground, every ton of manganese you take out of the ground, took some millions and millions of years to produce. And so that is lost forever for the next millions of years,” he emphasized.

He argued that the proposed legislation could also provide an opportunity to establish a dedicated fund to support indigenous mining companies and develop their operational capacities.

According to him, strengthening Ghanaian-owned mining businesses would enable them to expand their operations, attract investment and compete more effectively in the industry.

He cited companies such as Adamus Resources, Asante Gold and Engineers and Planners as examples of indigenous businesses whose capacities could be developed alongside emerging medium-scale mining enterprises.

Dr. Ashigbe said combining support for local businesses with foreign direct investment would help build a stronger domestic mining industry and improve the country’s ability to retain value from its mineral resources.

He reaffirmed the Chamber’s commitment to working with government, regulators and civil society organisations to develop policies that would strengthen the mining industry’s contribution to Ghana’s long-term economic development.

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Ghana risks fiscal crisis if gold prices collapse without revenue buffers – NRGI https://businessweekghana.com/ghana-risks-fiscal-crisis-if-gold-prices-collapse-without-revenue-buffers-nrgi/ Wed, 04 Nov 2026 17:22:26 +0000 https://businessweekghana.com/?p=73923 Ghana risks serious fiscal pressure if international gold prices fall sharply, as the country lacks a dedicated stabilisation mechanism to cushion government revenue from fluctuations in mineral prices, the Natural Resource Governance Institute (NRGI) has warned.

The Country Director of NRGI, Patrick Stephenson, said unlike the petroleum sector, which has a revenue management framework with stabilisation and heritage funds, Ghana had not established a similar arrangement for its mineral revenues.

He warned that a significant decline in gold prices could undermine government revenue projections, disrupt planned public expenditure and force the country to borrow to finance budget shortfalls.

If the prices collapse today, we don’t have any buffers. What that means is that if the revenues we’re looking for are not realised, you have serious pressures on our hands. If you ask me what will happen if the prices collapse, we’re in serious trouble,” he said.

Stephenson made the remarks in an interview on the sidelines of a civil society dialogue on Ghana’s mining resources organised by NRGI in partnership with the Ghana Chamber of Mines in Accra.

The dialogue, held under the theme, “Ghana’s Mining Fiscal and Revenue Governance Architecture: Is Ghana Maximising Value from its Mineral Wealth?”, examined how the country could improve revenue management and secure greater economic benefits from its mineral resources.

Stephenson said Ghana’s Petroleum Revenue Management Law provided a useful model for managing commodity price volatility, with provisions for allocating petroleum revenues to the annual budget funding, stabilisation and heritage funds.

He said the arrangement allowed the country to save some revenues when commodity prices were high and draw on the stabilisation fund when prices declined.

However, he regretted that the country had not replicated the framework in the minerals sector, despite the importance of gold to government revenue and the wider economy.

He noted that the recent surge in international gold prices had supported Ghana’s fiscal position and helped cushion the economy against some external shocks.

But he cautioned that relying on favourable market conditions without building adequate financial buffers could expose the country to significant economic difficulties when prices declined.

He said NRGI was considering proposals for a mineral revenue management framework similar to the petroleum revenue management system and would engage the Ministry of Finance, civil society organisations and other relevant stakeholders on how such an arrangement could work.

Value addition must translate into local economic benefits

On the need for Ghana to derive greater value from its mineral resources, Stephenson said the country must look beyond value addition and pay greater attention to value retention.

He explained that while value addition involved processing minerals into higher-value products, value retention focused on how much of the economic value generated remained within the country.

Using the bauxite-to-aluminium production chain as an example, he said processing bauxite into alumina and subsequently aluminium increased the value of the mineral.

However, he said Ghana also needed to determine how much of the additional value was retained locally through domestic businesses, employment, skills development and the production of goods and services required by mining companies.

Value addition and value retention are completely different. Value addition asks how much more value you have created, while value retention asks how much of that value you actually keep in the country,” he said.

Stephenson cited evidence suggesting that between 60 and 70 per cent of the value generated in Ghana’s gold value chain went outside the country because mining operations relied heavily on imported inputs.

He added that the situation required deliberate industrial policies to encourage local production of mining inputs and strengthen Ghanaian businesses to participate more effectively in the mining supply chain.

How do you balance policymaking such that two-thirds of the dollar that is generated in revenue in the gold value chain actually sits in the country?” he asked.

He said opportunities existed for Ghanaian companies to manufacture and supply goods currently imported by mining firms, adding that developing the necessary skills and industrial capacity would help retain more economic value locally.

He also pointed to the potential of linking different mineral value chains, explaining that developing a domestic lithium battery industry, for instance, would require a broader industrial strategy that considered other minerals, including manganese.

Stephenson stressed that value retention should be pursued without necessarily placing additional tax burdens on the mining sector.

Small-scale miners must contribute more to national revenue

On the fiscal contribution of artisanal and small-scale mining (ASM), Stephenson called for a review of policies to ensure that the sector contributed more adequately to government revenue.

He said local ownership of mining companies should not be confused with small-scale mining, explaining that domestic investors could own and operate large-scale mining companies.

He noted that the more important question was whether the substantial volume of gold produced by small-scale miners translated into corresponding tax revenues for the state.

According to him, evidence suggested that the fiscal contributions of small-scale mining were relatively low compared with those of established large-scale mining companies.

He said the amended Minerals and Mining legislation had introduced a two per cent royalty rate for small-scale miners under the new sliding-scale royalty regime, but questioned whether the rate was sufficient.

If they’re producing 53 per cent of the volume of the minerals we have in the gold value chain, then there has to be a calibration of policy on fiscal such that they contribute a bit more,” he said.

He, however, cautioned against imposing excessive taxes that could push small-scale operators out of the formal regulatory system and potentially encourage illegal mining activities.

He argued that government needed to strike a balance between increasing revenue mobilisation and maintaining a fiscal regime that encouraged compliance and formal participation in the sector.

He urged policymakers to examine the opportunities within the mining value chain to improve domestic revenue mobilisation and retain a greater proportion of the wealth generated from Ghana’s mineral resources.

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Mining revenues must deliver lasting benefits to Ghanaians – Panellists https://businessweekghana.com/mining-revenues-must-deliver-lasting-benefits-to-ghanaians-panellists/ Wed, 04 Nov 2026 08:58:37 +0000 https://businessweekghana.com/?p=73892
Panellists at a civil society dialogue on Ghana’s mining sector have called for greater transparency, accountability and effective management of mineral revenues to ensure that the country derives maximum value from its natural resources.

They said Ghana’s benefits from mining should go beyond royalties and taxes to include local employment, skills development, infrastructure, local procurement and stronger participation of Ghanaian businesses in the mining supply chain.

The call was made at a dialogue organised by the Natural Resource Governance Institute (NRGI), in partnership with the Ghana Chamber of Mines, in Accra on Tuesday, November 3, 2026.

The dialogue, held on the theme, “Ghana’s Mining Fiscal and Revenue Governance Architecture: Is Ghana Maximising Value from its Mineral Wealth?”, brought together representatives of government, the mining industry and civil society to examine the country’s fiscal arrangements and the distribution of benefits from mineral resources.

The panel comprised Ing. Dr. Ken Ashigbe, Chief Executive Officer of the Ghana Chamber of Mines; Patrick Stephenson, Country Director of NRGI; Mable Acquaye, Senior Policy Analyst at the Africa Centre for Energy Policy (ACEP); a representative of the Ministry of Lands and Natural Resources; and Dr. Steve Manteaw of the Ghana Extractive Industries Transparency Initiative (GHEITI)..

Contributing to the discussion, Dr. Ashigbe said transparency was essential to building public confidence in the mining industry and ensuring that the benefits from mineral extraction were properly accounted for.

Transparency is not an issue. It is something that we welcome, and it is that same transparency that we need to bring to everyone who comes to the table,” he said.

He argued that public scrutiny of mining revenues should not be limited to the payments made by mining companies to government but should also extend to how the state utilises the revenues it receives.

We should also be asking what is happening to the revenue that we as a people also get,” he added.

Dr. Ashigbe noted that mining was a finite industry, making it important for the country to invest revenues generated from mineral extraction in ways that would benefit future generations.

He said the revenues should be put to productive use to create sustainable economic opportunities beyond the lifespan of mining operations.

On how Ghana could retain more value from its mineral resources, he identified opportunities within the mining supply chain, particularly through local procurement and the development of Ghanaian businesses.

He said supporting local companies to provide goods and services to mining firms would create jobs, stimulate economic activity and retain more mining-related expenditure within the country.

Mable Acquaye and Dr. Steve Mateaw agreed that value creation should not be assessed solely through the ownership of mining companies but also through the extent to which Ghanaian businesses and workers participated in the industry.

Another concern raised during the discussion was the need for a predictable fiscal regime that could attract and sustain investment while ensuring that Ghana received a fair share of its mineral wealth.

Patrick Stephenson, on his part, emphasised that mining investment decisions were influenced not only by tax and royalty rates but also by policy consistency, regulatory certainty and the availability of critical infrastructure.

He said Ghana needed to strike a balance between securing adequate revenues for national development and maintaining an attractive investment environment.

The discussion also highlighted the importance of reliable data and independent assessments in determining whether Ghana was receiving an appropriate share of the value generated by its mining industry.

Participants were urged to move beyond political sentiments and rely on empirical evidence to assess the country’s fiscal arrangements against those of competing mining jurisdictions.

The representative of the Ministry of Lands and Natural Resources explained that mining companies were required to satisfy various technical and financial requirements before being granted licences to undertake mining operations.

The representative indicated that the ministry followed established procedures in assessing applications, adding that the country’s returns from mining should be considered beyond royalty payments to include other public revenues and payments.

The dialogue further examined the need for a comprehensive framework to track mining revenues, concessions and the benefits accruing to host communities.

Dr. Ashigbe called for greater transparency in the allocation of mining concessions, suggesting that clear guidelines and independently verifiable criteria would help strengthen public confidence in the process.

He also underscored the importance of establishing effective mechanisms to manage mineral revenues and ensure that some of the wealth generated from the sector was preserved for future generations.

The panellists agreed on the need for stronger collaboration among government, industry and civil society to improve transparency, strengthen accountability and ensure that Ghana’s mineral resources translated into broader economic and social development.

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Maximise Mining Value Without Weakening Investment — Ghana Chamber of Mines https://businessweekghana.com/maximise-mining-value-without-weakening-investment-ghana-chamber-of-mines/ Tue, 03 Nov 2026 17:10:11 +0000 https://businessweekghana.com/?p=73861 The Ghana Chamber of Mines has called for a balanced mining fiscal framework that delivers fair public revenues and tangible community benefits while sustaining the investment needed to secure the industry’s future.

The Chamber’s Chief Operating Officer, Ahmed Dasana Nantogmah, said Ghana’s success in maximising mineral wealth should be measured by both the revenues collected today and the lasting economic opportunities created for the country.

He was speaking at a civil society dialogue organised in partnership with the Natural Resource Governance Institute (NRGI) under the theme, “Ghana’s Mining Fiscal and Revenue Governance Architecture: Is Ghana Maximising Value from Its Mineral Wealth?”

Nantogmah described investors, communities and government as three interdependent pillars whose interests must be considered together.

Investors, communities and government form the mining tripod. Each must derive value through fair returns, improved livelihoods and sustainable public revenues. Our goal should be to maximise and fairly share that value; squeezing one leg weakens the whole,” he said.

He stressed that efforts to increase government revenue must preserve the conditions needed for exploration, mine development, continued production and employment. A stable, transparent and predictable fiscal and regulatory framework would help Ghana secure a fair return while encouraging reinvestment and protecting future revenue streams.

Mining, Investment, Ghana Chamber of MinesNantogmah also emphasised that effective environmental governance, transparent regulation, responsible gold trading and investment competitiveness must advance together. These priorities, he said, reinforce one another and should guide reforms across the sector.

He urged stakeholders to examine the full chain of value creation, from mineral development and revenue collection to the allocation and use of those revenues. The ultimate test, he noted, is whether mineral wealth translates into better livelihoods, stronger institutions and sustainable development, particularly in mining communities.

Mining, Investment, Ghana Chamber of MinesOn collaboration, Nantogmah said civil society’s research, scrutiny and community perspectives complement industry’s practical operating experience. Constructive engagement between these groups and government could help test assumptions, identify weaknesses and develop workable policy responses.

He reaffirmed the Chamber’s commitment to evidence-based dialogue and encouraged participants to question assumptions, listen to differing perspectives and identify practical areas for cooperation.

The dialogue provided a platform for stakeholders to assess Ghana’s mining fiscal and revenue governance framework and explore how the country can create greater value from its mineral resources and share the benefits fairly

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Newmont Recognised for Communications Excellence and Leadership https://businessweekghana.com/newmont-recognised-for-communications-excellence-and-leadership/ Tue, 03 Nov 2026 04:36:46 +0000 https://businessweekghana.com/?p=73849 …Wins three top awards in Public Relations and Corporate Communications

Newmont received three corporate awards at the National Public Relations and Communications Excellence Awards, organised by the Institute of Public Relations (IPR), Ghana.

The awards recognised the impact of Newmont’s communications work in 2025, a transformative year in which the company’s Communications and External Relations function supported key business priorities, strengthened stakeholder relationships, and enhanced the company’s reputation through integrated communication campaigns.

Newmont was named PR Organisation of the Year – Extractive Sector, Corporate Communications of the Year, and Digital and Social Media Communications Campaign of the Year, making it the only extractive company to receive these recognitions at this year’s awards.

Communications that Supported Business Transformation
Throughout 2025, Newmont deployed communications across multiple channels to help employees navigate significant changes within the business, while strengthening stakeholder trust and brand positioning.

Key priorities that were supported with strong communications included the successful divestment of the Akyem Mine, a major organisational restructuring, integration of business units, promotion of safety and wellbeing initiatives, the commissioning of the Ahafo North mine, and the 10-million-ounce production milestone of the Ahafo South mine.

Through employee and leadership communications, media relations, stakeholder engagement, digital storytelling and reputation management, Newmont kept employees aligned and external stakeholders engaged during a period of transformation.

Newmont, Leadership, IPR awardsIndividual Honours – Abigail Naa Karley Clegg
At the IPR awards, Abigail Naa Karley Clegg, Communications Specialist at Newmont, was also named Internal Communicator of the Year, adding an individual honour to the company’s three corporate recognitions. The award recognised her work in employee engagement, change communications, digital innovation, and safety and wellbeing communications during 2025.

Abigail joined Newmont in 2019, and has been driving several of the company’s storytelling campaigns, particularly on social media, as well as strengthening the effectiveness of internal communications.

The recognitions underscore the extensive role that Newmont and Abigail have played in advancing the value of strategic communications to business success.

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Our Structures Are Not Speculative! —Concerned Farmers https://businessweekghana.com/our-structures-are-not-speculative-concerned-farmers/ Mon, 02 Nov 2026 14:53:14 +0000 https://businessweekghana.com/?p=73831 By Our Correspondent, Terchire

The Concerned Farmers Association of Afrisipakrom, Terchire, Susuanso and Adrobaa in the Ahafo Region has strongly rejected Newmont’s petition to the Lands Commission describing the structures of 21 of its members as “speculative,” warning that the petition was deliberately delaying the payment of compensation approved under compulsory acquisition instrument Executive Instrument (E.I.) 273 of 2024.

Addressing the media at Terchire in the Tano North Municipality, Ahafo Region on Monday, November 2, the Chairman of the Association, John Mensah, said the farmers received a letter dated 9th June, 2026 from the Lands Commission informing their representatives that Newmont had submitted a petition claiming that some structures belonging to 21 members should not receive compensation.

There is also the separate case of other farmers whose lands and properties were taken under E.I. 356 of 2023. Those members have received no compensation at all,” he averred.

Consequently, the Commission asked for the Association’s comments to enable it to decide on the matter.

We also want to respond to Newmont’s petition to the Lands Commission describing our structures as ‘speculative’. We reject this claim. We are concerned that this petition is delaying the payment of compensation by the Lands Commission for our structures under compulsory acquisition E.I. 273 of 2024,” he said.

“Our position is clear: our structures are not speculative under either the mining laws or the Land Act. We strongly reject the claim that our structures are “speculative”. These structures existed long before Newmont planned to extend its mining operations into our area. We lived in them and used them for farming and other farming-related businesses. They were part of our everyday lives and the means by which we supported our families. It is deeply unfair to take our lands, destroy our properties and then describe those properties as “speculative” when it is time to pay compensation,” he declared.

According to the Chairman, the Association’s lawyer and valuers responded to the Commission’s request and rejected Newmont’s claim as unfounded.

THE LEGAL BATTLEGROUND: MINING LAW VERSUS LAND ACT

At the heart of the dispute is which law governs the compensation. Mensah explained that Newmont relied on the Minerals and Mining Act and an alleged cut-off date set in 2017 under the mining regulations to challenge compensation for the structures and describe them as “speculative.”

He said this position was “shocking and unfair,” because the process under the mining law had been abandoned in dealing with the farmers. He recounted that the Government had earlier granted Newmont a mining concession in the Tano North Municipality under the Minerals and Mining Act, 2006 (Act 703), which was different from the State compulsorily acquiring the lands under the Land Act, 2020 (Act 1036).

That grant was different from the State compulsorily acquiring our lands under the Land Act, 2020, Act 1036,” he explained.

He said that when the Government in 2023 proceeded under the Land Act to compulsorily acquire selected lands for Newmont’s mining operations and related activities, including lands belonging to members of the Association, the legal basis for compensation shifted.

The State had now acquired our lands under a different law, the Land Act. This meant that compensation for that compulsory acquisition must be assessed and paid under the Land Act. We therefore submitted ourselves to the procedures under that Act,” he stated.

“We find this shocking and unfair. This is because the process under that mining law had been abandoned in dealing with us and the State had instead used the Land Act, 2020, Act 1036, to acquire our lands for Newmont. We therefore question why Newmont is now returning to the earlier law to challenge payment for our structures,” he said.

THE LAND ACT DEFINITION OF “SPECULATIVE”

Mensah drew a sharp distinction between the two legal regimes, explaining that under the Land Act, a property was described as speculative only when improvements were made after the Government had published its notice to acquire the land.

We reject that approach in assessing compensation. Under the land law, Act 1036, a property is described as speculative when improvements made after the Government publishes its notice to acquire the land. It makes no reference to an alleged mining cutoff date,” he said.

He stressed that the Association’s structures were built long before any acquisition notice was published and that they are not speculative under either the mining laws or the Land Act.

SIGNED RECORDS CONTRADICT THE PETITION

The Association further argued that Newmont’s own representatives signed joint enumeration records during a 2024 exercise, contradicting the company’s current claim that the structures should not be compensated.

Mensah recounted that following the difficulties with the first acquisition in 2023, the Minister for Lands and Natural Resources at the time established a Ministerial Committee including Nananom (Chiefs) from the affected communities, representatives of relevant state institutions, lawyers for affected farmers and Newmont, to discuss compensation in an effort to reach an agreement and avoid another compulsory acquisition.

As part of this process, he said, Newmont, the affected farmers and representatives of the Lands Commission jointly inspected, counted and recorded the affected crops and structures, supervised by the Committee chaired by the then Deputy Executive Secretary of the Lands Commission.

The crop records were completed and signed by the affected farmer, the chief farmer, a Newmont representative and a representative of the Land Valuation Division of Lands Commission,” he said.

“The structure records were also completed and signed by the affected farmer, the surveyor, representatives of the Land Valuation Division, a representative of the Resettlement Negotiation Committee and a Newmont representative. The properties identified as qualifying for compensation were then presented to the Committee,” he added.

The Chairman said these records form part of the evidence that must be considered fairly when deciding the claims.

We again draw attention to the joint records made during the 2024 exercise. Newmont’s representatives signed those records alongside the affected farmers and representatives of the Lands Commission. The records confirm that the structures were identified and recorded. They form part of the evidence that must be considered fairly when deciding our claims,” he stated.

A PROCESS COMPLETED, THEN STALLED

According to Mr Mensah, the compensation process had in fact been completed before Newmont’s petition. After almost two years of the second acquisition, in a letter dated 13th April 2026, the Lands Commission, through its Valuation Technical Committee, approved compensation amounts for crops, structures and lands acquired under E.I. 273.

There is also the separate case of other farmers whose lands and properties were taken under E.I. 356 of 2023. Those members have received no compensation at all,” he indicated.

With the farmers’ consent and approval, their lawyers and valuers accepted those amounts in a letter dated 24th April 2026 to the Lands Commission.

After going through these processes, we expected payment. Instead, we faced another obstacle,” the Chairman said.

He said the Association wants the Commission to resolve the outstanding issues without further delay and pay compensation for all structures under E.I. 273.

“We ask the Commission to resolve the outstanding issues without further delay and pay compensation for all our structures under E.I. 273,” he demanded.

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Ghana to end raw mineral exports by 2030 — Mahama https://businessweekghana.com/ghana-to-end-raw-mineral-exports-by-2030-mahama/ Mon, 19 Oct 2026 15:29:15 +0000 https://businessweekghana.com/?p=73675 President John Dramani Mahama has reiterated plans to phase out exports of unprocessed mineral ores by 2030 as part of efforts to boost local processing, accelerate industrialisation and retain more economic value from Ghana’s mineral resources.

The proposed policy will cover minerals including bauxite, manganese, iron and lithium, with the government planning a phased prohibition supported by legal measures, mineral-specific requirements and clear implementation timelines.

Speaking at the Mining in Motion Conference on Monday, October 19, 2026, President Mahama said Ghana must move beyond extracting minerals for export and develop the capacity to process them locally.

I’ve set a clear goal that by 2030, raw mineral ores should no longer leave our shores. Our bauxite, manganese, iron, lithium, and other minerals must support processing and industrial development here at home,” he said.

The President said the government would establish clear processing obligations for investors seeking access to the country’s mineral resources, making local value addition a key consideration in the sector.

We will pursue a phased prohibition on exports of unprocessed ores, supported by the necessary legal measures, mineral-specific requirements, and transparent implementation timetables,” he said.

He added that Ghana had already banned the export of iron scrap and non-ferrous metals, stressing that investors must understand the processing obligations attached to access to the country’s resources.

The proposed restrictions are intended to encourage investment in domestic mineral processing, strengthen local industries and create more economic opportunities along the mining value chain.

Gold refining push

Alongside the proposed restrictions on raw mineral exports, President Mahama said the government was taking steps to expand Ghana’s capacity in gold assaying, refining and related services.

The initiative, being pursued through the Ghana Gold Board (GoldBod) and the country’s gold refining policy, is intended to ensure that more value from gold production is retained within the domestic economy.

Through the Ghana Gold Board and our gold refining policy, we are working to retain more value through assaying, refining, and related services,” he said.

Expanding local gold processing is expected to create opportunities for businesses and professionals while strengthening Ghana’s participation in activities beyond mineral extraction.

The policy direction signals a broader shift towards using the country’s mineral wealth to support domestic industrial development rather than relying predominantly on exports of raw materials.

However, achieving the 2030 target will require the development of adequate processing infrastructure, investment and effective implementation of the proposed regulatory measures.

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IFEJ, Lands Ministry to Collaborate on Mining and Natural Resource Reporting https://businessweekghana.com/ifej-lands-ministry-to-collaborate-on-mining-and-natural-resource-reporting/ Wed, 14 Oct 2026 12:19:48 +0000 https://businessweekghana.com/?p=73624 The Institute of Financial and Economic Journalists (IFEJ) is seeking closer collaboration with the Ministry of Lands and Natural Resources to strengthen specialised journalism on mining, forestry, land administration and natural resource governance in Ghana.

The initiative was discussed during a courtesy call by IFEJ on the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, to introduce the Institute and explore areas of cooperation with the Ministry and its agencies.

The engagement focused on improving journalists’ access to technical information, strengthening their understanding of sector policies and reforms, and promoting accurate, evidence-based reporting on the natural resources sector.

IFEJ proposed the establishment of an annual conference with the Ministry on mining, gold and natural resource governance, alongside training workshops, research publications and field visits to mining communities, galamsey-affected areas and sites undergoing land reclamation.

The Institute also proposed closer engagement with agencies under the Ministry and the possible signing of a Memorandum of Understanding (MoU) to provide a framework for sustained collaboration.

IFEJ expressed its readiness to support public education by helping communicate government policies and initiatives through informed and responsible journalism.

Minister backs specialised journalism

Buah welcomed the initiative and expressed support for closer engagement between the Ministry and journalists specialising in economic and financial reporting.

He outlined ongoing and proposed reforms in the lands, forestry and mining sectors, including efforts to modernise land administration through technology, restore degraded forests and strengthen governance and accountability in mining.

The Minister highlighted the Tree for Life initiative, which seeks to restore degraded forest areas and promote tree planting, including among schoolchildren.

On mining, he said a new mining policy had received Cabinet approval, while further reforms were being pursued to strengthen governance, increase local participation and encourage responsible investment in the sector.

The proposed reforms also include community mining agreements designed to establish clearer development commitments between mining companies and host communities.

Other measures seek to strengthen Ghanaian participation in the mining industry, support medium-scale mining and increase local content. Proposed changes to mining licence arrangements are also intended to discourage speculative acquisition of licences and encourage genuine investment in mineral development.

Buah underscored the importance of specialised journalism in helping the public understand the complexities of the sector, including government policies, implementation challenges and the economic and social implications of mining and other natural resource activities.

Workshop to deepen journalists’ knowledge

As an initial step towards formal collaboration, the Minister agreed to facilitate a half-day workshop for IFEJ members, bringing together officials of the Ministry and heads of relevant agencies.

The workshop is expected to provide journalists with detailed briefings on sector policies, ongoing reforms, achievements and challenges, while offering an opportunity to ask questions and identify areas requiring further investigation and reporting.

The Minister also expressed his willingness to support subsequent engagements between IFEJ and the relevant agencies.

The proposed collaboration is expected to help journalists develop a deeper understanding of natural resource governance, improve access to technical expertise and produce more informed reports on developments in the lands, forestry and mining sectors.

For IFEJ, the engagement forms part of efforts to strengthen economic journalism in Ghana through professional development, institutional partnerships and responsible reporting on issues critical to the country’s development.

 

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Chamber of Mines urges Reuters to clarify Mining Bill report https://businessweekghana.com/chamber-of-mines-urges-reuters-to-clarify-mining-bill-report/ Thu, 08 Oct 2026 14:14:43 +0000 https://businessweekghana.com/?p=73528 The Ghana Chamber of Mines has urged Reuters to revise its report on the proposed Minerals and Mining Bill, 2026, saying the publication should clarify that the State’s special-share powers already exist under Ghanaian law.

The Chamber said the special-share provision highlighted in the Reuters report of September 30, 2026, is not a new legal requirement, although the proposed legislation seeks to re-enact the framework with tougher sanctions for non-compliance.

In a statement issued on October 7, the Chamber said Section 60 of the Minerals and Mining Act, 2006 (Act 703), already empowers the Minister responsible for mines to require a mining company to issue a special share to the Republic for no consideration.

The provision, it explained, gives the State consent rights over specified major corporate transactions.

The power has therefore been part of Ghana’s mining legislation since 2006,” the Chamber stated.

The clarification follows a Reuters report headlined “Ghana bill would give state special share rights in mining firms, draft shows,” which examined provisions in the proposed legislation.

The Chamber said Clause 57 of the published Bill largely maintains the existing framework but materially increases the sanctions for non-compliance.

It stressed, however, that explaining the history of the provision should not be interpreted as endorsing the special-share power or how it may be exercised.

The Chamber has consequently asked Reuters to make clear that the power is not being introduced for the first time under the 2026 Bill.

Chamber highlights conflicting lease terms

The Chamber also raised concerns about the reporting of proposed mining lease durations, pointing to a difference between the Bill published by Parliament and a subsequent statement by the Government.

It said Clause 39(2)(a) of the May 2026 version of the Bill provides for an initial mining lease term of 15 years or the forecast life of the mine, whichever is shorter.

However, the Minister for Lands and Natural Resources subsequently announced a different policy position at the Government Accountability Series on July 15, 2026.

Mining lease period is now fixed at 20 years maximum…” the Minister stated.

According to the Chamber, the statement reflects the Government’s later policy intention but does not automatically change the text of the Bill.

The material point for readers is the unresolved difference between the text published by Parliament and the Government’s later public statement,” it said.

The Chamber urged Reuters to acknowledge both positions and clarify that the 20-year maximum was the Government’s stated intention, rather than the wording contained in the published Bill.

Calls for accurate reporting

The Chamber said clear reporting on the proposed legislation was necessary to support informed public debate, particularly because international coverage of Ghana’s mining industry influences investment decisions and policy discussions.

It noted that the Bill contains substantive proposals requiring careful examination and said it would continue engaging the Government, Parliament and regulators on the implications for the mining sector.

The debate is best served when reporting distinguishes existing law from proposed changes and the text of a Bill from later ministerial statements about the Government’s policy intentions,” the statement said.

The Chamber also encouraged media organisations covering the sector to engage relevant institutions and accurately explain legal and policy developments.

It reaffirmed its support for reforms that strengthen governance, deepen Ghanaian participation and increase national value, while maintaining the predictability and competitiveness needed for responsible, long-term mining investment.

The Ghana Chamber of Mines represents companies involved in mineral exploration, production and processing in Ghana.

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Mining Must Prove Its Impact, Not Just Publicize It — Chamber https://businessweekghana.com/mining-must-prove-its-impact-not-just-publicize-it-chamber/ Mon, 05 Oct 2026 17:12:38 +0000 https://businessweekghana.com/?p=73462 Ghana’s mining sector must go beyond citing billions of cedis in taxes, local purchases and community spending by demonstrating how these contributions improve lives and deliver enduring benefits.

Ahmed Dasana Nantogmah, Chief Operating Officer of the Ghana Chamber of Mines, made the call while opening the 2026 PR, Environment and Sustainability Seminar in Kumasi.

Nantogmah said today’s better-informed and more skeptical public is unlikely to accept corporate assertions without proof, particularly as misinformation and disinformation circulate quickly.

People want evidence. Our task is not simply to tell people what mining creates; our task is to show it,” he said, calling on industry communicators to move “from publicity to proof.”

He pointed to the industry’s significant contribution to Ghana’s economy in 2025: over GH¢24.2 billion in fiscal revenue; roughly US$7 billion spent domestically, including about US$4.2 billion paid to local suppliers; and US$88.6 million invested directly in communities by Chamber member companies.

However, he said the critical issue was whether these numbers translated into visible improvements in mining communities.
“If we go into the mining communities, are we going to see that impact?” he asked.

According to Nantogmah, the sector’s real contribution should be evident in stronger local enterprises, improved livelihoods and infrastructure, sustainable employment, and opportunities communities can experience firsthand.

He further tied lasting impact to predictable policies, increased investment and stronger domestic value retention. In his view, high gold prices should enable Ghana to draw more exploration funding, increase output and prolong the operating lives of existing mines, instead of focusing chiefly on securing more revenue from current operations.

Nantogmah again called for Ghana to progress from local procurement to domestic manufacturing, observing that little value remains in the country when goods bought locally still rely heavily on imported components.

Donald Gwira, Vice President of the Institute of Public Relations Ghana and guest speaker at the Seminar, supported the emphasis on evidence and credibility by distinguishing reputation from trust.

Reputation is communicated, but trust is earned,” Mr. Gwira said, explaining that trust grows when an organization’s statements, conduct and stakeholder experiences align consistently.

He therefore called for public relations to extend beyond publicity and function as a core part of strategic management.
Gwira said communications professionals should participate early in organizational decisions so they can detect emerging issues, understand stakeholder expectations and help shape responses, rather than being brought in only after controversy develops.

The Seminar delivered a clear message: under growing public scrutiny, the mining industry’s credibility will rest not only on the size of its contribution, but also on its capacity to demonstrate concrete, measurable results.

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