The Minority in Parliament has raised alarms over recent government decisions in the mining sector, warning that they could stifle economic growth, discourage foreign investment, and lead to higher job losses.
In a letter dated April 21, 2025, addressed to the Ministers for Finance and Lands and Natural Resources, the Minority described the government’s new mining policies as “potentially dire” for the country’s economic stability.
The letter, signed by the Ranking Members on the Economy and Development Committee, Kojo Oppong Nkrumah, the Lands and Natural Resources Committee, Kwaku Ampratwum Sarpong, and the Finance Committee, Dr. Mohammed Amin Adam, criticized two recent tax measures introduced to the industry. These include a 3% Growth and Sustainability Levy on gross mining volumes, which came into effect this year, and an additional levy set to be implemented between 2026 and 2028.
The Minority argues that these levies are intensifying financial strain on struggling mines, discouraging fresh investment, and threatening the stability of the sector.
The Minority in Parliament has expressed deep concern over recent government actions in the mining sector, warning that they could exacerbate financial struggles for mining companies, discourage investment, and negatively impact the country’s long-term economic prospects.
In their letter, the MPs highlighted that the new royalty-like levies are worsening financial difficulties for many already distressed mines. They also criticized the taxes on companies mining minerals other than gold, noting that those without price surges are being unfairly burdened.
The Minority also expressed concern over the recently passed GOLDBOD Act, which bans foreign entities from trading and exporting gold. According to the MPs, this move not only sends a negative signal to global investors but also violates the 1992 Constitution by retroactively affecting existing rights.
Further criticizing the government’s approach, the Minority condemned the decision to reject the renewal of Goldfields Ghana Limited’s mining lease.
They argued that this decision undermines investor confidence and discourages long-term commitment to the country. The MPs believe that Ghana could have used the renewal process as an opportunity to renegotiate better terms rather than pushing an established operator out.
Additionally, the Minority raised concerns over the government’s decision to defund 80% of the Minerals Income Investment Fund (MIIF), which traditionally supports the state’s equity interests in mining operations. They argued that this move signals a retreat from Ghana’s goal of securing meaningful stakes in resource development.
In addition to economic concerns, the statement referenced a violent incident at a mine resulting in eight deaths. The Minority linked the attack to anti-investor rhetoric from public figures and expressed dismay at the stalled investigation, which they say further undermines investor confidence.
The opposition also criticised the recent abolition of Community Mining Schemes, warning that this decision has created space for illegal mining activities to expand. They argue that instead of scrapping the initiative, the government should have formalised and regulated it.
Calling for a policy rethink, the Minority urged the government to restore lease renewals, offer incentives, avoid hostile rhetoric, and establish a clear framework for growing local mining firms. “This is the time when government must bolster economic stability and attract, rather than discourage, foreign direct investment,” they concluded.
