DAKAR – Ghana’s mining funding local weather dangers being undermined by lease revocations, renewal delays and coverage uncertainty, including to value pressures for miners, the pinnacle of the business group has stated.
Kenneth Ashigbey, CEO of the Ghana Chamber of Mines, informed Reuters on Thursday that the revocation of some leases held by native miner Adamus Sources over alleged illegalities, together with uncertainty over Gold Fields’ lease renewal, danger creating the impression that “safety of tenure in Ghana shouldn’t be assured,” doubtlessly hurting funding.
The lease for Tarkwa – a cornerstone asset for the South African miner that produced about 427,000 ounces of gold in 2025 – expires in 2027, however efforts to advance renewal talks have stalled, Ashigbey stated.
Ghana, like different African commodity producers, has launched reforms to seize extra income, as costs of minerals and metals soar.
Africa’s prime gold producer final yr declined to resume Gold Fields’ lease for its smaller Damang mine – which the corporate had indicated it would promote – and as an alternative awarded it to native contractor Engineers & Planners (E&P).
Accra-based nonprofit Institute for Financial Affairs stated this week that Ghana shouldn’t renew Tarkwa’s lease however as an alternative allocate it to native operators.
“Their proposal will destroy the safety of tenure that’s important to the event and sustenance of the mining business,” Ashigbey informed a press convention on Thursday, earlier than chatting with Reuters.
Gold Fields didn’t instantly reply to requests for remark. A mining govt, who requested to not be named because of the sensitivity of the matter, stated the corporate was involved concerning the uncertainty after makes an attempt to satisfy officers failed. “Tarkwa is an enormous deal due to the volumes it contributes,” the chief stated.
Ghana’s mines ministry and the Minerals Fee, the sector regulator, didn’t instantly reply to requests for remark.
