Accra, Dec. 12, – Mr. Michael Edem Akafia, President of the Ghana Chamber of Mines, has pressed the government to fast-track a Minerals Revenue Management Act aimed at boosting transparency, accountability, and the sustainable use of Ghana's mineral wealth.
He voiced this during the 11th Ghana Mining Industry Awards (GMIA) in Accra, bringing together policymakers, diplomats, mining leaders, and stakeholders to recognize sector achievements.
Mr. Akafia explained that the bill would establish a clear system for handling mineral income, modeled after the Petroleum Revenue Management Act, to deliver lasting gains for current and future Ghanaians.
“A Minerals Revenue Management Act will deepen transparency, improve accountability, and ensure that mineral revenues are used more efficiently and equitably,” he said. “It is essential for intergenerational equity, saving and investing today’s revenue for future needs and the rainy day.”
Ing. Dr. Kenneth Ashigbey, the Chamber's CEO, praised the government's decision to drop VAT on exploration in the 2026 Budget, labeling it a daring action to lure investments and grow mineral reserves.
Both leaders underscored the importance of steady policies amid reviews of the Minerals and Mining Act. Mr. Akafia warned that repeated shifts, even with good intentions, breed uncertainty in the high-cost mining industry. He advocated moderation in the suggested sliding-scale royalty system, noting that high rates might hamper expansion.
Addressing illegal mining, Mr. Akafia denounced recent assaults on state bodies and security forces tackling galamsey, calling them “unacceptable and dangerous to Ghana’s environmental and economic future.” He framed illegal operations as a governance, social, and national security threat, urging firm action.
The gathering also spotlighted uplifting tales from mining areas. Dr. Ashigbey highlighted success stories from the Chamber’s Tertiary Education Fund and programs fostering skills and jobs that have changed lives.
Mr. Akafia pointed to worldwide shifts like automation, digitalization, decarbonization, and surging needs for critical minerals as hurdles and prospects for Ghana. He called for government-industry teamwork to advance local content, training, and innovation, cementing Ghana's role as a regional mining leader.
Awards celebrated excellence in safety, innovation, community work, gender diversity, and operations. AngloGold Ashanti Iduapriem Mine took Mining Company of the Year. Dr. Catherine Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, claimed Mining Personality of the Year. The late Kwame Addo-Kufuor earned a posthumous Lifetime Achievement Award.
Sponsors included Gold Fields, AngloGold Ashanti, Zijin Golden Ridge, Newmont, Newcore/Cape Coast Resources, Perseus Mining Ghana Limited, UMA, Sandvik Ghana, Interplast, and Stanbic Bank. Further support came from SMT Ghana, Asanko Gold Ghana, DRA, Mining Tools Ghana, Carmeuse Lime Products, and Liebherr.
GHBUSS
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