Accra, Dec. 12, GNA – The President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, has urged government to expedite the passage of a Minerals Revenue Management Act to promote transparency, accountability, and sustainable utilization of Ghana’s mineral resources.
He made the call at the 11th Ghana Mining Industry Awards (GMIA) held in Accra, where policymakers, diplomats, mining executives, and industry stakeholders gathered to celebrate excellence in the sector.
Mr. Akafia said the proposed legislation would provide a structured framework for managing mineral revenues, similar to the Petroleum Revenue Management Act, and ensure long-term benefits for both present and future generations.
“A Minerals Revenue Management Act will deepen transparency, improve accountability and ensure that mineral revenues are used more efficiently and equitably,” he stated.
“It is essential for intergenerational equity, saving and investing today’s revenue for future needs and the rainy day.”
The Chief Executive Officer of the Chamber, Ing. Dr. Kenneth Ashigbey, commended government for removing VAT on exploration activities in the 2026 Budget, describing the move as a bold step to attract investment and expand Ghana’s mineral reserves.
Both executives, however, stressed the need for policy consistency as the Minerals and Mining Act undergoes review. Mr. Akafia cautioned that frequent policy changes, though well-intentioned, create uncertainty for long-term investments in the capital-intensive mining sector.
He also called for a balanced approach to the proposed sliding-scale royalty regime, warning that excessive rates could stifle growth.
On illegal mining, Mr. Akafia condemned recent attacks on state institutions and security agencies involved in anti-galamsey operations, describing them as “unacceptable and dangerous to Ghana’s environmental and economic future.”
He emphasized that illegal mining was not only an ecological crisis but also “a governance, social and national security problem,” calling for decisive enforcement.
The event also highlighted human-interest stories from mining communities. Dr. Ashigbey shared inspiring accounts of beneficiaries of the Chamber’s Tertiary Education Fund and initiatives that have transformed lives through skills development and employment opportunities.
Mr. Akafia noted that global trends such as automation, digitalisation, decarbonisation, and rising demand for critical minerals present both challenges and opportunities for Ghana.
He urged government to partner with industry to strengthen local content, skills training, and innovation to position Ghana as a regional mining hub.
The awards ceremony honoured outstanding achievements in safety, innovation, community development, gender inclusion, and operational excellence. AngloGold Ashanti Iduapriem Mine was adjudged Mining Company of the Year, while Dr. Catherien Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, won the prestigious Mining Personality of the Year award.
The late Kwame Addo-Kufuor was honoured posthumously with the Lifetime Achievement Award.
The GMIA was sponsored by Gold Fields, AngloGold Ashanti, Zijin Golden Ridge, Newmont, Newcore/Cape Coast Resources, Perseus Mining Ghana Limited, UMA, Sandvik Ghana, Interplast, and Stanbic Bank, with additional support from SMT Ghana, Asanko Gold Ghana, DRA, Mining Tools Ghana, Carmeuse Lime Products, and Liebherr.
GNA
Christian Akorlie