Chamber of Mines Urges Passage of Minerals Revenue Management Act

The President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, has called on government to urgently enact a Minerals Revenue Management Act to guarantee transparency, accountability, and sustainable use of Ghana’s mineral wealth.

He made the appeal at the 11th Ghana Mining Industry Awards (GMIA) held last Friday at the Movenpick Hotel in Accra, before an audience of policymakers, diplomats, mining executives, and industry stakeholders.

Mr. Akafia argued that Ghana needs a structured framework similar to the Petroleum Revenue Management Act to secure long-term benefits for both present and future generations.

“A Minerals Revenue Management Act will deepen transparency, improve accountability and ensure that mineral revenues are used more efficiently and equitably,” he stressed. “It is essential for intergenerational equity, saving and investing today’s revenue for future needs and the rainy day.”

Policy Consistency and Fiscal Reforms

The Chamber’s CEO, Ing. Dr. Kenneth Ashigbey, commended government for scrapping VAT on exploration activities in the 2026 Budget, describing it as a bold step to stimulate investment and expand Ghana’s mineral reserves. He noted that the measure would help maintain Ghana’s competitiveness as a preferred mining hub.

Both executives, however, underscored the need for policy consistency as the Minerals and Mining Act undergoes review. Mr. Akafia cautioned that frequent policy changes, though well-intentioned, create instability for long-term investments in the capital-intensive mining sector.

He also urged government to adopt a balanced approach to the proposed sliding-scale royalty regime, warning that excessive rates could stifle growth.

Tackling Illegal Mining

Mr. Akafia condemned recent attacks on state institutions, security agencies, and regulators engaged in anti-galamsey operations, describing them as unacceptable and dangerous to Ghana’s environmental and economic future.

He emphasized that illegal mining is not only an ecological crisis but also “a governance, social and national security problem,” calling for decisive and well-resourced enforcement.

Human Impact and Community Transformation

Beyond policy debates, the awards night highlighted inspiring human stories from mining communities.

Dr. Ashigbey shared accounts of a young woman whose dream of tertiary education was revived through the Chamber’s Tertiary Education Fund, and another who rose from community volunteer to full-time mine worker through the Inter-Mines First Aid and Safety Competition.

“These stories show mining’s potential to transform lives when investment is directed toward people and communities,” he said.

Global Trends and Opportunities

Mr. Akafia noted that global shifts—automation, digitalisation, decarbonisation, and rising demand for critical minerals—present both challenges and opportunities for Ghana. He urged government to partner with industry to strengthen local content, skills training, and innovation so Ghana can emerge as a regional hub not only in production but also in mining technology and sustainability.

Both leaders emphasized unity as essential for the sector’s future, calling for stronger collaboration among government, industry, labour unions, host communities, and civil society.

“Ghana wins when we work together. Ghana prospers when we manage our mineral wealth responsibly,” Mr. Akafia declared.

Celebrating Excellence

The awards ceremony honoured achievements across safety, innovation, community development, gender inclusion, and operational excellence.

• Mining Company of the Year: AngloGold Ashanti Iduapriem Mine
• Mining Personality of the Year: Dr. Catherine Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine
• Lifetime Achievement Award: The late Kwame Addo-Kufuor

The 11th GMIA was sponsored by Gold Fields, AngloGold Ashanti, Zijin Golden Ridge, Newmont, Newcore/Cape Coast Resources, Perseus Mining Ghana Limited, UMA, Sandvik Ghana, Interplast, and Stanbic Bank, with additional support from SMT Ghana, Asanko Gold Ghana, DRA, Mining Tools Ghana, Carmeuse Lime Products, and Liebherr.

---CitiNewsRoom