The Ghana Chamber of Mines is pushing for regulatory stability, balancing concerns over recent lease revocations with the broader necessity of foreign investment for national economic growth.
The Ghana Chamber of Mines has defended the importance of regulatory certainty and investor confidence in Ghana’s mining sector while expressing concern over the revocation of mining leases held by Adamus Resources Limited and responding to calls by the Institute of Economic Affairs for government to reject the renewal of Gold Fields’ Tarkwa Mine lease.. In a detailed statement, the Chamber acknowledged the decision by the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah,
to revoke the Akango, Salman and Nkroful mining leases of Adamus Resources following investigations by the Minerals Commission into alleged breaches of mining regulations.. The Chamber reaffirmed its commitment to responsible and lawful mining practices but stressed that enforcement actions must comply with statutory due process requirements to protect the rule of law and maintain investor confidence.. According to the Chamber, Adamus and its legal representatives have argued that the revocation did not comply with
notice requirements under the Minerals and Mining Act and related regulations.. The Chamber welcomed ongoing engagements between government and Adamus, including the establishment of a ministerial committee to review the company’s petition against the revocation decision, and urged all parties to pursue constructive dialogue within the framework of the law.. On the debate surrounding the renewal of Gold Fields’ Tarkwa Mine lease, the Chamber rejected claims by the Institute of Economic Affairs that Ghana’s mining
sector disproportionately benefits foreign investors at the expense of national development.. The Chamber argued that Ghana’s mining industry under state ownership in earlier decades suffered declining output, underinvestment, inefficiencies and financial losses, which contributed to broader economic difficulties that led Ghana to seek support from the International Monetary Fund in the 1980s.. It maintained that reforms introduced to attract private investment revitalised the sector, resulting in increased gold production, infrastructure modernisation, and the development of
a strong mining services ecosystem.. According to the Chamber, gold production from the large-scale mining sector increased from 216,000 ounces in 1983 to nearly three million ounces in 2025, helping position Ghana as Africa’s leading gold producer.. The statement further noted that Ghana’s mining fiscal regime already ensures significant benefits to the state through royalties, taxes, levies, dividends and other payments, with government retaining more than 60 per cent of mining sector rents.. Using Tarkwa
as an example, the Chamber disclosed that Gold Fields, Ghana Manganese Company and AngloGold Ashanti Iduapriem together paid approximately GHS5.1 billion in taxes in 2024, representing 7.3 per cent of total direct domestic tax collections by the Ghana Revenue Authority during the period.. The Chamber also highlighted investments made by mining companies in host communities, stating that producing member companies have collectively invested more than US$300 million over the past decade in education, healthcare, roads,
water systems and livelihood programmes.. It cited the Gold Fields Ghana Foundation as having invested nearly US$110 million in corporate social responsibility projects since 2002, including roads, sports infrastructure, agricultural support, youth training and healthcare projects.. However, the Chamber argued that persistent infrastructure challenges in mining communities stem largely from weaknesses in Ghana’s mineral revenue distribution framework rather than a lack of corporate contribution.. It therefore reiterated its long-standing call for at least 30 per
cent of mineral royalty revenues to be allocated directly to mining communities.. The Chamber also defended the role of foreign and private investment in Ghana’s mining industry, stressing that operational participation by private investors does not undermine Ghana’s sovereignty over its mineral resources, since all minerals remain vested in the state under the Minerals and Mining Act.. It warned that rejecting mining lease renewals contrary to existing legal provisions could undermine policy certainty, discourage investment
and negatively affect Ghana’s competitiveness as a mining destination.. The Chamber concluded by urging government to maintain a balanced approach that supports both indigenous participation and foreign investment, while safeguarding the long-term sustainability and growth of the mining industry.
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