Accra: The Ghana Chamber of Mines has strongly opposed the Institute of Economic Affairs' (IEA) proposal to nationalise mining assets, stating that the focus should be on enhancing regulation and transparency within the sector. This response comes in light of the IEA's call to block the lease renewal of the Tarkwa mining operations.
According to Ghana Web, Kenneth Ashigbey, the Chief Executive Officer of the Chamber, emphasized the importance of dialogue with the IEA, but underscored that discussions concerning the mining industry's future must be informed by facts and thorough analysis. He highlighted the mining sector's vital role in Ghana's economy and the need for stable policies to maintain investor confidence and encourage long-term investment.
Ing Ashigbey warned that nationalising mining operations without comprehensive consultation and proper assessment could deter investments and negatively impact sector activities. This warning emerges amidst ongoing public discourse on whether Ghana should expand state ownership in the extractive industry, especially with rising global gold prices and concerns about revenue generation.
The Chamber asserted that the government's focus should be on reinforcing compliance measures, enforcing existing regulations, and ensuring that Ghana maximizes benefits from its mineral resources. The Chamber's statement concluded that the future of Ghana's mining industry should be based on evidence, regulatory certainty, and constructive dialogue, rather than decisions that might undermine investor confidence.