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The minority in Parliament has launched a scathing critique of the government’s recent policy decisions affecting the mining industry, warning that the cumulative impact is driving away foreign direct investment (FDI) and putting thousands of jobs at risk.
In a strongly worded statement signed by Ranking Members Kojo Oppong Nkrumah (Economy & Development), Kwaku Ampratwum Sarpong (Lands & Natural Resources), and Dr Mohammed Amin Adam (Finance), the opposition legislators outlined six major actions taken by the government in recent months that they say are eroding investor confidence and destabilising the sector.
The minority’s first concern centres on two new tax measures introduced under the 2025 revenue framework:
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- A 2% Growth and Sustainability Levy on gross mining revenues.
- An additional levy from 2026 to 2028 aimed at sustaining long-term development.
“These royalty-like levies are being applied indiscriminately and are severely affecting firms already in financial distress,” the statement read.
The MPs noted that while some companies may benefit from commodity price booms, others—especially those mining less profitable minerals—are being disproportionately burdened. They called for immediate dialogue between the government and the Ghana Chamber of Mines to explore more equitable fiscal alternatives.
The second issue flagged is the controversial GOLDBOD Act, which bans foreign participation in gold trading and exports. According to the minority, Section 78(4) of the law violates Article 107(b) of Ghana’s 1992 Constitution by retrospectively stripping existing investors of their rights.
“The legislation was rushed through Parliament, ignoring valid concerns raised by the minority,” the MPs said. “It has created a dangerous precedent and suggests that Ghana does not honour its commitments to investors.”
They further argued that this policy amounts to a form of economic expropriation, signalling to international markets that Ghana may not be a safe or stable destination for capital investment.
Another flashpoint is the government’s decision to reject a lease renewal application by Goldfields Ghana Limited, a major player in the country’s gold sector.
The minority described the move as a missed opportunity for negotiation and value enhancement.
“Instead of encouraging divestment, the government should use lease renewals as a chance to renegotiate terms and increase Ghana’s benefit from its natural resources,” the statement said. “Rejecting renewals after major capital investments undermines investor confidence.”
In a fourth concern, the minority pointed to the government’s decision to defund 80% of revenues flowing into the Minerals Income Investment Fund (MIIF)—a sovereign investment vehicle designed to increase the state’s participation in mining operations.
“This move tells the world that Ghana is no longer interested in growing its stake in its own mineral wealth,” the MPs said. “The country is sending the wrong message: we want the revenues, but we don’t want to invest in the sector.”
They warned that the defunding of MIIF not only reduces Ghana’s long-term revenue potential but also weakens the country’s bargaining power in future mining contracts.
The minority also raised the alarm over rising security concerns, citing at least one violent attack on a mining site that resulted in eight deaths. The MPs blame inflammatory public rhetoric targeting foreign investors for the unrest and expressed dismay over the government’s failure to conclude investigations.
“This kind of lawlessness—paired with silence from the state—only serves to heighten investor fear,” the statement said. “No investor will risk life and property in such an unpredictable environment.”
Lastly, the MPs criticised the government’s decision to abolish the community mining programme, describing it as a regressive move that may worsen illegal mining.
“Rather than banning these schemes outright, the government should have regulated and formalised them,” they argued. “The result of this policy reversal is already visible: illegal mining activities are surging once again.”
The minority warned that taken together, these six policy actions—implemented over just three months—signal a hostile investment environment and could have long-lasting implications on economic growth and job creation.
“At a time when domestic savings and investments are low, we must be attracting—not discouraging—foreign capital,” the statement emphasised.
They proposed a five-point remedy for government consideration:
- Renew pending mining lease applications to maintain investor operations and jobs.
- Provide fiscal incentives to stimulate responsible and sustainable mining.
- Cease inflammatory rhetoric that could incite violence or xenophobia.
- Engage stakeholders to promote transparency, environmental stewardship, and community development.
- Establish a framework to help local small-scale miners transition into medium- and large-scale operations.
The minority concludes that if the government does not reverse course and begin engaging constructively with investors and local stakeholders, the country risks losing billions in future revenue, thousands of jobs, and its standing as a top mining destination on the African continent.
“We are not against reforms, but those reforms must be strategic, fair, and anchored in the long-term economic interests of Ghana and its people.”
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