Chamber of Mines Rejects Calls to Nationalise Mining Assets
The Chief Executive Officer of the Ghana Chamber of Mines, Ken Ashigbey, has rejected proposals by the Institute of Economic Affairs to nationalise mining assets in Ghana, arguing that the country should rather prioritise stronger regulation, transparency and investor confidence within the extractive sector.
Speaking during a media engagement on Thursday, May 14, Ing. Ashigbey said while the Chamber welcomes public discourse on the future of Ghana’s mining industry, such discussions must be guided by facts, data and national economic interests rather than emotions.
“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 one of the country’s most important economic pillars, contributing significantly to export earnings, government revenue, employment and foreign exchange inflows.
He stressed that sustaining the sector’s contribution to the economy requires stable and predictable policies capable of attracting long-term investments from both local and international mining firms.
Ing. Ashigbey cautioned that any move to nationalise mines without broad stakeholder consultation and careful policy consideration could create uncertainty within the industry and negatively affect investor confidence.
He warned that abrupt policy shifts could disrupt ongoing mining operations and potentially undermine Ghana’s competitiveness as a preferred mining investment destination in Africa.
“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.
The Chamber’s comments come amid renewed national debate over whether Ghana should increase state ownership and control within the extractive sector, particularly at a time when global gold prices remain elevated and concerns continue to grow over revenue mobilisation and the country’s ability to derive maximum value from its natural resources.
Some policy analysts and civil society actors have argued that increased state participation in mining could help Ghana retain a greater share of mineral wealth and strengthen national development financing.
However, Ing. Ashigbey maintained that the country’s focus should instead be on improving regulatory compliance, strengthening governance systems and enforcing existing mining laws to ensure efficiency and accountability across the sector.
He further emphasised the need for enhanced transparency and stronger collaboration between government, regulators and mining companies to maximise benefits from Ghana’s mineral resources while maintaining investor trust.
According to him, Ghana can achieve greater value from the mining industry through effective regulation, responsible mining practices and sustainable policy implementation rather than through nationalisation of private mining assets.
