The Minority in Parliament has strongly criticized the government for implementing policies they believe are jeopardizing Ghana’s mining sector.
In a letter dated April 21, 2025, addressed to the Ministers for Finance and Lands and Natural Resources, the opposition expressed concern that the new measures could hinder growth, drive away foreign investment, and lead to job losses.
The letter was signed by the Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah; the Ranking Member on the Lands and Natural Resources Committee, Kwaku Ampratwum Sarpong; and the Ranking Member on the Finance Committee, Dr. Mohammed Amin Adam.
Together, they described the recent policy decisions as potentially damaging to the national economy.
Two new tax measures were at the center of the criticism: a 3% Growth and Sustainability Levy on gross mining volumes introduced in 2025, and an additional levy scheduled to take effect from 2026 to 2028.
The Minority contends that these levies, which function similarly to royalties, are exacerbating the financial struggles of several already distressed mining operations.
They further argued that miners dealing in minerals that have not experienced recent price increases are being unfairly impacted by these taxes.
Another contentious issue is the newly enacted Goldbod Act, which prohibits foreign entities from trading and exporting gold.
The Minority believes this move sends a discouraging message to international investors and retroactively infringes on rights protected by the 1992 Constitution.
The opposition also took issue with the government’s decision not to renew the lease of Gold Fields Ghana’s Damang mine.
They view the refusal as a missed opportunity to renegotiate terms with an experienced operator and a blow to investor confidence.
Additionally, the Minority criticized the government for slashing funding to the Minerals Income Investment Fund (MIIF) by 80%.
They believe this decision undermines Ghana’s ability to secure a meaningful stake in its natural resources and signals a retreat from its ambitions in the sector.
Raising further concern, the group highlighted a violent attack at a mining site that claimed eight lives.
They attributed the incident to anti-investor rhetoric and expressed frustration with the lack of progress in the investigation, which they say only adds to investor anxiety.
The Minority also opposed the recent abolition of Community Mining Schemes, arguing that this move has encouraged illegal mining activities. Rather than scrapping the schemes, they believe the government should have regulated them to promote responsible mining.
The Minority called on the government to reconsider its current approach.
They urged the administration to restore lease renewals, reduce hostile rhetoric, and implement a clear strategy to support local mining firms.
They emphasized the need for policies that promote economic stability and encourage, rather than deter, foreign direct investment.
