The Institute of Economic Affairs (IEA) is calling on the government not to renew mining licenses of multinational companies with expired leases, advocating for full state ownership of the country’s mineral resources.
This move, according to the IEA, would allow the country to unlock long-term economic and strategic benefits, create jobs, and increase revenue.
The IEA argues that the current royalty-based system is a colonial-era model that delivers marginal returns to Ghana.
Instead, they propose a system where the state retains full ownership of mineral resources and contracts private firms for technical and operational services.
This call is part of broader efforts to reform the country’s mining sector, with the IEA emphasizing the need for local ownership and control.
