Review Gold Royalty to Attract Investment – Chamber of Mines CEO

The Chief Executive Officer of the Ghana Chamber of Mines, Ken Ashigbey, has called on the government to review the overall tax burden on gold producers.

He warned that the current royalty structure could weaken Ghana’s competitiveness in the global mining industry.

He said authorities should reassess the effective royalty rate imposed on mining firms to ensure the country remains an attractive destination for investment.

His remarks follow parliament’s passage of the Growth and Sustainability Levy (Amendment) Bill, 2026 on Friday, which reduced the levy on gold mining companies from 3% of gross production to 1%.

Government officials say the measure is intended to ease pressure on mining companies after the introduction of the Minerals and Mining Royalty Regulations, 2025, which created a sliding-scale system allowing royalty rates to fluctuate based on global commodity prices.

Speaking in a media interview, Mr. Ashigbey welcomed the government’s decision but suggested that further policy adjustments may still be required.

“We should first say thank you to the government. The minister for finance, when we met with him and the Ministry for Lands and Natural Resources, had made a commitment that he was going to take off two percent of the growth and sustainability levy, and we had told him that we’re grateful for that, but it was not going to be enough,” he said.

He explained that the combined royalty burden on gold producers remains high and could affect Ghana’s attractiveness as a mining destination.

“The 13.54% royalty in Ghana, which effectively means that’s where the one percent GSL to the twelve percent at today’s gold price conversion, will not make us competitive,” he said.

He called for continued engagement between the government and industry stakeholders to determine what he described as a balanced and sustainable tax framework.

“Our appeal and the continuous engagement we have with the government is for the government to consider that there’s some work that we need to all do together to find a sweet spot that would ensure that Ghana would continue to be an attractive mining jurisdiction,” he added.

Mr. Ashigbey also cautioned that declining investor confidence could have wider economic implications for the country.

“If you look at the Fraser Report that has just been issued, you find that in terms of investment attractiveness, we’ve dropped. And it would have implications for investment,” he said.

According to him, reduced investment in the sector could eventually lead to lower production levels, job losses and declining government revenue.