Chamber of Mines Pushes Minerals Revenue Law for Transparency
By Praisebell Rosemond Larbi
The President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, has renewed calls on government to urgently pass a Minerals Revenue Management Act to ensure transparency, accountability, and the sustainable use of Ghana’s mineral wealth.
He made the call at the 11th Ghana Mining Industry Awards (GMIA), held last Friday at the Movenpick Ambassador Hotel in Accra, before an audience of policymakers, diplomats, mining executives, regulators, and industry stakeholders.
Mr. Akafia said Ghana’s mining sector has matured to a point where a clear and structured framework is needed to manage mineral revenues, similar to the Petroleum Revenue Management Act governing the oil and gas sector. According to him, such legislation would strengthen public trust, improve oversight, and guarantee long-term national benefits.
“A Minerals Revenue Management Act will deepen transparency, improve accountability, and ensure that mineral revenues are used more efficiently and equitably,” he stated. “It is essential for intergenerational equity, saving and investing today’s revenue for future needs and the rainy day.”
He stressed that mining remains a long-term, capital-intensive industry, and predictable governance structures are critical to sustaining investor confidence and national development outcomes.
The Chief Executive Officer of the Chamber, Ing. Dr. Kenneth Ashigbey, used the occasion to commend government for scrapping Value Added Tax (VAT) on exploration activities in the 2026 Budget. He described the move as bold and forward-looking, noting that it would help stimulate exploration, expand Ghana’s mineral reserves, and enhance the country’s competitiveness as a preferred mining destination.
Both Chamber leaders, however, cautioned against policy inconsistency, particularly as the Minerals and Mining Act undergoes review. Mr. Akafia warned that frequent policy changes, even when well intentioned, create uncertainty that can undermine long-term investment decisions.
He also urged government to adopt a balanced approach to the proposed sliding-scale royalty regime, cautioning that excessive royalty burdens could constrain growth, discourage investment, and reduce the sector’s overall contribution to the economy.
Illegal mining featured prominently in the discussions. Mr. Akafia condemned recent attacks on state institutions, security agencies, and regulators involved in anti-galamsey operations, describing them as dangerous and unacceptable.
“Illegal mining is not just an environmental issue; it is a governance, social, and national security problem,” he said, calling for decisive, well-resourced, and coordinated enforcement to protect Ghana’s land, water bodies, and institutions.
Beyond policy issues, the ceremony highlighted the human impact of mining. Dr. Ashigbey shared stories of transformation from mining communities, including beneficiaries of the Chamber’s Tertiary Education Fund and participants in the Inter-Mines First Aid and Safety Competition who have transitioned into full-time employment.
“These stories remind us that mining can change lives when investment is directed at people and communities,” he noted.
Mr. Akafia also pointed to global trends, automation, digitalisation, decarbonisation, and rising demand for critical minerals, as both a challenge and an opportunity for Ghana. He urged stronger partnerships between government and industry to build skills, deepen local content, and support innovation, positioning Ghana as a regional hub not only for production but also for sustainable and technology-driven mining.
The awards night celebrated excellence across safety, innovation, community development, gender inclusion, and operational performance. AngloGold Ashanti Iduapriem Mine emerged as Mining Company of the Year, while Dr. Catherien Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, was named Mining Personality of the Year. The late Kwame Addo-Kufuor received a posthumous Lifetime Achievement Award for his contributions to the sector.
