Omanghana
Ghana is facing growing concerns over its mining investment climate as lease revocations, delayed renewals, and calls for greater state control over mining assets raise uncertainty in the sector.
Kenneth Ashigbey warned that recent developments are creating the perception that “security of tenure in Ghana is not guaranteed,” potentially pushing investors toward competing markets such as Côte d’Ivoire.
The concerns come amid ongoing disputes involving major mining operations, including the stalled renewal process for Gold Fields’ Tarkwa mine, one of Ghana’s largest gold-producing assets. The company has applied for a 20-year extension ahead of the lease’s expiration in 2027, but discussions have reportedly slowed.
Pressure has also increased from the Institute of Economic Affairs, which is urging the government of John Dramani Mahama to reject the extension and prioritize local or state-backed operators.
Investor concerns have intensified following the government’s refusal to renew Gold Fields’ Damang mine lease and the revocation of mining leases linked to Adamus Resources over alleged irregularities.
The Ghana Chamber of Mines has opposed proposals to reduce maximum mining lease durations from 30 years to 15 years, arguing that shorter terms could discourage long-term investment and make large-scale mining projects financially unattractive.
Instead of nationalization, the Chamber has proposed reforms aimed at improving how mining revenues are distributed, including directing a larger share of mineral royalties toward communities hosting mining operations.
Source: Omanghana
