The Minority in Parliament has criticised of government’s recent actions in the mining sector, warning that a series of new policies and decisions are threatening to derail growth, scare off investors, and cost jobs across the country.
In a strongly worded letter dated April 21, 2025, and addressed to the Ministers for Finance and Lands and Natural Resources, the opposition described the government’s direction as “potentially dire” for Ghana’s economy.
The letter was signed by three key ranking members of Parliament: Kojo Oppong Nkrumah (Economy and Development Committee), Kwaku Ampratwum Sarpong (Lands and Natural Resources Committee), and Dr. Mohammed Amin Adam (Finance Committee).
At the heart of the Minority’s concerns are two new tax measures — a 3% Growth and Sustainability Levy on gross mining volumes implemented in 2025, and an additional levy scheduled from 2026 to 2028. The MPs argue that these “royalty-like levies” are worsening the financial position of already distressed mining operations, particularly for producers of minerals whose global prices have remained stagnant.
“These levies are not only unfair but could collapse several mining operations,” the Minority warned, stressing that the burden could trigger mass layoffs and operational shutdowns.
Also drawing sharp criticism is the recently enacted Goldbod Act, which bans foreign entities from trading and exporting gold. The Minority contends that the law sends a hostile signal to international investors and violates constitutional protections by retroactively affecting existing trade agreements.
“The Act damages Ghana’s credibility and breaches the 1992 Constitution,” the statement read.
The opposition also took issue with the government’s refusal to renew the mining lease of Gold Fields Ghana’s Damang mine, calling the decision a blow to investor confidence. According to the Minority, the lease could have been used as a negotiation tool to secure better terms for Ghana, rather than being denied outright.
Another major point of concern is the government’s decision to cut 80% of funding to the Minerals Income Investment Fund (MIIF) — a key institution through which Ghana maintains equity stakes in its mining sector. The Minority sees this as a significant policy reversal that weakens the country’s influence over its natural resources.
The letter also referenced a recent violent incident at a mining site, which resulted in the deaths of eight individuals. The Minority linked the tragedy to rising anti-investor sentiments and called out the lack of progress in the investigation as further damaging to investor trust.
Additionally, the group criticized the government’s decision to abolish Community Mining Schemes, arguing that the move has opened the door to illegal mining. “Instead of abolishing the schemes, the government should have focused on regulation and oversight,” they suggested.
In a firm closing statement, the Minority urged the government to reconsider its approach to mining policy.
“This is the time when government must bolster economic stability and attract, rather than discourage, foreign direct investment,” the MPs said. “We call for the restoration of lease renewals, a reduction in anti-investor rhetoric, and a clear strategy to support local mining firms.”