Chamber of Mines president calls on government to pass the Minerals Revenue Management Act

The President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, has urged the government to quickly pass a Minerals Revenue Management Act to promote transparency, accountability, and the sustainable use of Ghana’s mineral resources.

He made the appeal at the 11th Ghana Mining Industry Awards (GMIA) last Friday at the Movenpick Hotel in Accra. Speaking to an audience of policymakers, diplomats, mining executives, and industry stakeholders, Mr. Akafia said it was time for Ghana to adopt a structured framework similar to that used for petroleum revenue.

He believes this kind of legislation would boost public trust in how mining proceeds are managed, while ensuring lasting benefits for both current and future generations.

“A Minerals Revenue Management Act will increase transparency, enhance accountability, and make sure mineral revenues are used more efficiently and fairly,” he emphasized. “It’s all about intergenerational fairness—saving and investing today’s income for future needs and those inevitable rainy days.”

The CEO of the Chamber, Ing. Dr. Kenneth Ashigbey on his part, commended government for scrapping VAT on exploration activities in the 2026 Budget, describing it as a bold step toward stimulating investment and expanding Ghana’s mineral reserves.

He noted that the intervention would help keep Ghana competitive as a preferred mining hub.

Both executives, however, underscored the urgent need for policy consistency, especially as the Minerals and Mining Act undergoes review.

Mr. Akafia warned 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, cautioning that overly burdensome rates could hinder growth.

Another major concern highlighted at the event was illegal mining. Mr. Akafia condemned recent attacks on state institutions, security agencies, and regulators involved in anti-galamsey operations, describing them as unacceptable and dangerous 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 problem”, calling for decisive and well-resourced enforcement.

Beyond policy and economics, the night also reflected on the transformative human stories emerging from Ghana’s mining communities.

Dr. Ashigbey shared inspiring accounts, including 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, he said, demonstrate mining’s potential to change lives when investment is directed toward people and communities.

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

Both Chamber leaders emphasised unity as essential for the sector’s long-term success. They called for stronger collaboration among government, industry, labour unions, host communities, and civil society to build a modern, ethical, and inclusive mining industry.

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

The awards ceremony honoured outstanding achievements across safety, innovation, community development, gender inclusion, and operational excellence. Mining companies, workers, and support service providers were celebrated for their contributions to the sector’s growth.

As the night concluded, AngloGold Ashanti Iduapriem Mine was crowned Mining Company of the Year, while Dr. Catherien Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, received the prestigious Mining Personality of the Year award. The late Kwame Addo-Kufuor was also honoured posthumously with the Lifetime Achievement Award for his outstanding contribution to the industry.

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