Accra: Mr Emmanuel Armah-Kofi Buah, the Minister of Lands and Natural Resources, has announced that the Minerals and Mining Policy of 2014 has been revised and approved by Cabinet this year. This development aims to indigenize mining by enhancing local content and participation through domestic value addition to minerals, improving linkages to the manufacturing industry, and addressing the challenges of illegal mining and environmental protection.
According to Ghana News Agency, the announcement was made during the Government Accountability Series Press Conference held at the Presidency. Mr Buah highlighted that after stakeholder consultations, the Minerals and Mining Act, 2006 (Act 703), which had been operational for 20 years, was reviewed and endorsed by Cabinet for onward transmission to Parliament for approval. The revised Bill introduces an updated legal framework to ensure that mining significantly contributes to national development.
The new Act introduces district mining committees as a starting point for mineral licensing, establishes medium scale mining as a new category, and replaces reconnaissance and prospecting licenses with an Exploration license fixed at a maximum of five years. The mining lease period is now set at a maximum of 20 years, with a community development agreement included as part of any mining lease.
The Minister emphasized the significant achievements recorded in the Mining Sub-sector, aimed at strengthening regulation, enhancing value addition, improving safety, and combating illegal mining. A key legislative milestone was the passage of the Minerals and Mining (Royalties) Regulations (2025), L.I 2517, which established a sliding-scale royalty payment. This adaptive framework benefits both the Republic as the resource owner and the mining companies as contractors and investors. It ensures significant government revenue during commodity price booms and alleviates financial strain on companies during downturns.
Mr Buah stated that the vision for Local Content is to ensure that Ghana's mineral wealth creates lasting prosperity for Ghanaians, with a commitment to building a mining industry where Ghanaians are not merely participants but owners, investors, innovators, and manufacturers. The Government is promoting Ghanaian ownership, value addition, technology transfer, local enterprise development, and sustainable job creation to retain the full benefits of the nation's natural resources within the economy.
He also noted the launch of the maiden Mining Local Content Summit in Takoradi in February by President John Dramani Mahama, which reinforced the resolve to move beyond raw mineral export towards value addition and industrialization. The government remains committed to protecting genuine Ghanaian participation and will not tolerate fronting or arrangements that undermine the Local Content agenda.