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 strengthen transparency, accountability and the sustainable use of Ghana’s mineral resources.
He made the call at the 11th Ghana Mining Industry Awards (GMIA) held last Friday at the Movenpick Hotel in Accra, where industry leaders, policymakers, diplomats and mining executives gathered to celebrate excellence in the sector.
Mr Akafia said Ghana must adopt a structured framework for managing mineral revenues, similar to the Petroleum Revenue Management Act, to enhance public confidence and ensure 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 said, stressing the need for intergenerational equity through prudent saving and investment of today’s proceeds.
The Chief Executive Officer of the Chamber, Ing. Dr Kenneth Ashigbey, welcomed government’s decision to scrap VAT on exploration activities in the 2026 Budget, describing it as a bold policy move that would stimulate investment and expand Ghana’s mineral reserves. He said the measure would help maintain Ghana’s competitiveness as a preferred destination for mining investment.
Both Chamber leaders, however, emphasised the importance of policy consistency, particularly as the Minerals and Mining Act undergoes review. Mr Akafia cautioned that frequent policy changes, though well-intentioned, create uncertainty in the capital-intensive mining sector and could undermine long-term investment decisions.
He also urged government to adopt a balanced approach to the proposed sliding-scale royalty regime, warning that excessively high rates could constrain growth and investment.
Illegal mining was another major concern raised at the event. Mr Akafia condemned recent attacks on state institutions, security agencies and regulators involved in anti-galamsey operations, describing them as unacceptable and a threat to Ghana’s environmental and economic future. He stressed that illegal mining was not only an ecological crisis but also a governance, social and national security challenge requiring decisive enforcement.
Beyond policy issues, the ceremony highlighted the human impact of mining on communities. Dr Ashigbey shared stories of lives transformed through the Chamber’s initiatives, including beneficiaries of the Tertiary Education Fund and participants in the Inter-Mines First Aid and Safety Competition, underscoring mining’s potential to drive inclusive development.
Mr Akafia noted that global trends such as automation, digitalisation, decarbonisation and rising demand for critical minerals present both risks and opportunities for Ghana. He called for closer collaboration between government and industry to strengthen local content, skills development and innovation to position Ghana as a regional hub for sustainable and technology-driven mining.
The Chamber leaders also called for stronger collaboration among government, industry, labour unions, host communities and civil society to build a modern, ethical and inclusive mining sector.
“Ghana wins when we work together. Ghana prospers when we manage our mineral wealth responsibly,” Mr Akafia said.
The awards night celebrated excellence across safety, innovation, community development, gender inclusion and operational performance. AngloGold Ashanti Iduapriem Mine was named Mining Company of the Year, while Dr Catherien Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, received the Mining Personality of the Year award.
The late Kwame Addo-Kufuor was posthumously honoured with the Lifetime Achievement Award for his outstanding contribution to the mining industry.
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.
