The Minority in Parliament has accused the government of endangering Ghana’s mining sector through a series of harmful policies.
In a letter dated April 21, 2025, the opposition warned that the new measures would stifle growth, repel foreign investment, and trigger job losses.
Addressed to the Ministers for Finance and Lands and Natural Resources, the letter described the recent decisions as “potentially dire” for Ghana’s economy.
It was signed by Kojo Oppong Nkrumah, Ranking Member on the Economy and Development Committee; Kwaku Ampratwum Sarpong, Ranking Member on the Lands and Natural Resources Committee; and Dr. Mohammed Amin Adam, Ranking Member on the Finance Committee.
The MPs criticised two new tax measures: 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.
“These royalty-like levies are putting several mines already in distress into graver financial difficulties,” the Minority wrote.
They also argued that miners of other minerals, who have not benefited from price hikes, are being unfairly burdened by the taxes.
Even more alarming to the group is the newly passed Goldbod Act, which bans foreign entities from trading and exporting gold. According to the Minority, the law sends the wrong message to investors and violates the 1992 Constitution by retroactively affecting existing rights.
The Minority further condemned the government’s refusal to renew the lease for Gold Fields Ghana’s Damang mine, describing the decision as a blow to investor confidence and long-term commitments.
“The government could have used the renewal to renegotiate better terms, not force out an experienced operator,” the letter stated.
The MPs also criticised the government’s decision to defund 80% of the Minerals Income Investment Fund (MIIF), a key vehicle for Ghana’s equity participation in mining, calling it a step back from the country’s ambition to secure a meaningful stake in its natural resources.
Additionally, the Minority raised concerns over a violent attack at a mining site that left eight people dead. According to the group, the attack was fueled by anti-investor rhetoric, and the lack of progress in the investigation has only deepened investor fears.
The Caucus also slammed the recent abolition of Community Mining Schemes, arguing that the move has created room for illegal mining. They said the schemes should have been regulated rather than scrapped.
In closing, the Minority urged the government to rethink its approach, restore lease renewals, tone down hostile rhetoric, and implement a clear strategy to support local mining firms.
“This is the time when government must bolster economic stability and attract, rather than discourage, foreign direct investment,” the letter concluded.
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