The Ghana Chamber of Mines has mounted a robust defence of the country’s current mining framework, rejecting growing calls for the nationalisation of mining assets and cautioning that abrupt policy shifts could undermine investor confidence, destabilise operations, and erode Ghana’s reputation as a stable mining jurisdiction.
The pushback comes in response to recent proposals by the Institute of Economic Affairs (IEA), which has urged government to reconsider lease renewals for major mining concessions, including Gold Fields’ Tarkwa Mine, and instead pursue full Ghanaian ownership and strategic control of mineral resources.
At the centre of the Chamber’s response is a firm warning that Ghana’s mining success story—built over decades of reforms, private investment, and regulatory evolution—must not be reversed by what it describes as emotionally driven policy prescriptions.
Let facts, not emotions, guide mining policy
Chief Executive Officer of the Ghana Chamber of Mines, Ing. Ken Ashigbey, said the Chamber remains open to engaging the IEA and other stakeholders on the future of Ghana’s mining industry, but insisted that discussions must be grounded in evidence and economic realities rather than ideology.
“We want to engage the IEA. It is good to discuss these issues dispassionately, but let the facts speak for themselves,” he stated.
According to him, Ghana’s mining sector remains a critical pillar of the national economy, contributing significantly to foreign exchange earnings, tax revenue, and employment creation.
He stressed that maintaining policy certainty is essential to sustaining long-term investment in a capital-intensive sector such as mining.
Ing. Ashigbey further cautioned that any attempt to nationalise mining operations without careful planning could have far-reaching consequences for investor sentiment and operational stability.
“The Constitution gives room for engagement and dialogue. What is important is that we protect the integrity and competitiveness of Ghana’s mining industry,” he added.
Defence of lease renewal process
The Chamber further defended Gold Fields’ application for renewal of the Tarkwa Mine lease, insisting that Ghana’s legal framework clearly provides mechanisms for lease extension where operators meet their obligations.
While acknowledging government’s right to review terms during renewal negotiations, Ing. Ashigbey stressed that such processes must remain anchored in established legal and regulatory procedures.
“The imperative is not to reverse the gains made in the mining sector, but to strengthen and modernise the industry in ways that deepen benefits to the state, improve outcomes in mining communities and sustain investor confidence,” he stated.
Stability over disruption
Concluding its position, Ing. Ashigbey urged policymakers to prioritise stability, governance reform, and enhanced local participation rather than policy approaches that could introduce uncertainty into the sector.
He maintained that Ghana’s long-term economic interests would be better served through predictable regulation and continuous improvement of the investment climate, rather than structural disruptions that could deter future investment.
Chamber defends mining regime and investment climate
Ing. Ashigbey warned that proposals aimed at reversing existing mining agreements or introducing resource nationalisation risks undermining decades of progress in sector development.
He argued that Ghana’s mining industry has grown steadily due to policy consistency, private capital inflows, and constructive collaboration between the state and investors.
“The future of Ghana’s mining industry must be guided by evidence, regulatory certainty and constructive engagement, not emotionally driven prescriptions that could undermine investor confidence,” the Chamber stated.
He emphasised that investor protections and stable regulatory frameworks remain central to Ghana’s ability to compete for global mining capital, particularly at a time when other jurisdictions are also vying for investment in critical minerals.
Adamus case and regulatory enforcement
Ing. Ashigbey also addressed the recent revocation of mining leases belonging to Adamus Resources Limited by the Ministry of Lands and Natural Resources following allegations of regulatory breaches.
While reaffirming its support for lawful mining operations and regulatory compliance, he stressed that enforcement actions must adhere strictly to due process and the legal protections embedded in Ghana’s mining laws.
According to him, maintaining predictability in regulatory enforcement is essential for sustaining investor confidence and ensuring that Ghana remains an attractive destination for mining investment.
The Chamber welcomed ongoing engagements between government and Adamus Resources, including the establishment of a ministerial committee tasked with reviewing the company’s petition against the lease revocation.
Mining sector defends economic contribution
On the wider debate regarding ownership of mineral resources, the Chamber rejected arguments suggesting that foreign participation in mining is responsible for Ghana’s macroeconomic challenges or dependence on international financial assistance.
Instead, he argued that the sector has historically served as a stabilising force for the economy through tax revenue generation, foreign exchange inflows, and employment creation.
He cited the transformation of the Tarkwa Mine following private sector investment, noting that Ghana’s large-scale gold production rose from approximately 216,000 ounces in 1983 to nearly three million ounces in 2025 after reforms that attracted foreign capital and expertise.
The Chamber also stated that the state already derives substantial benefits from mining through royalties, corporate taxes, levies, and carried interest in mining ventures.
Ing. Ashigbey disclosed that mining companies contributed approximately GH¢19 billion in taxes in 2025, accounting for nearly 23 percent of direct domestic tax revenue.
Community development and social investment
Responding to criticisms that mining communities have not benefited sufficiently from decades of extraction, he highlighted significant corporate social investments made by mining companies.
The Chamber estimated that more than $300 million has been invested over the past decade in education, healthcare, infrastructure, water systems, and livelihood programmes across mining communities.
Specific reference was made to initiatives by the Gold Fields Ghana Foundation, including road construction projects, educational infrastructure support, youth training programmes, and ongoing expansion works at the Apinto Government Hospital in Tarkwa.
However, the Chamber acknowledged persistent development gaps in mining areas, attributing them largely to inefficiencies in Ghana’s mineral revenue distribution system rather than insufficient corporate contributions.
Call for reform in revenue distribution
To address these gaps, Ing. Ashigbey renewed calls for at least 30% of mineral royalty revenues to be channelled directly to mining communities.
Ing. Ashigbey argued that such a reform would strengthen local development, improve accountability, and ensure that communities hosting mining operations experience more tangible benefits.
He also raised concerns about revenue leakages in the small-scale mining sector, noting that despite accounting for more than half of Ghana’s gold output in 2025, the sector contributes disproportionately low tax revenues.
Ing. Ashigbey urged government to intensify efforts to formalise and regulate small-scale mining to ensure equitable contribution to national development.
