Policy Reform Strengthening Ghana’s Mining Industry

Ghana has implemented transformative policy reforms in its mining sector, emphasizing local content, modernization, and investment. Upcoming projects span established and emerging markets, with key focus on a bauxite export ban, Green Minerals Policy, and Local Content Regulation aimed at enhancing economic growth. The Mining in Motion conference will further discuss these developments and their investment implications.

Ghana has undertaken significant policy reforms in the past decade, prioritizing local content development, modernization of infrastructure, and enhancing investment within its mining sector. This initiative has spurred the launch of various projects across established markets, such as gold, bauxite, manganese, and diamonds, as well as newer sectors including lithium, graphite, rare earth elements, and iron ore.

The forthcoming Mining in Motion (MIM) conference in Accra aims to present how these reforms have influenced Ghana’s mineral market, featuring discussions on major projects and potential investment collaborations among policymakers, mining stakeholders, and global partners.

On June 2024, Ghana plans to implement a law prohibiting the export of raw bauxite. Minister of Lands and Natural Resources, Samuel Abu Jinapor, noted that this legislation aims to capitalize on Ghana’s substantial bauxite reserves—estimated at 900 million tons—by enhancing value addition, creating jobs, and boosting infrastructure development, which in turn will increase revenue through exporting processed bauxite products.

The Green Minerals Policy, enacted in August 2023, seeks to eliminate fiscal barriers for critical mineral industry participants and promote local content development while positioning Ghana within the global energy transition market. Notably, Atlantic Lithium Limited received an environmental permit for its Ewoyaa Lithium Project, with anticipated production starting in 2026.

Ghana’s Local Content and Participation Regulation, established in 2020, mandates the prioritization of Ghanaian expertise, goods, and services in the mining sector. This regulation has attracted increased investments, facilitating efficient project deployment and providing access to a skilled workforce. For example, Electrochem Ghana Limited is expanding its workforce by 3,000 to enhance salt production, while both China’s Zijin Mining Group and Canadian Asante Gold Corporation are pursuing significant investments in Ghana’s mining industry.

Furthermore, Ghana’s Equipment Tracking Regulations, introduced in 2020, are essential for modernizing mining infrastructure. These regulations have improved operational efficiency and sustainability by monitoring the application of mining equipment. The Minerals Income Investment Fund reported a revenue generation of $1.02 billion from gold monetization in 2024, while Goldstone Resources declared a 34% boost in gold production due to these modernization efforts.

To remain informed about industry advancements and to engage in vital discussions on the impacts of mining in Ghana, stakeholders are encouraged to attend the Mining in Motion 2025 Summit. Registration can be completed at www.MininginMotionSummit.com, and inquiries for sponsorship opportunities or delegate participation may be directed to [email protected].

In conclusion, Ghana’s recent policy reforms have significantly strengthened its mining sector. Initiatives such as the raw bauxite export ban and the Green Minerals Policy are pivotal in promoting local content and sustainable practices. By attracting investments and modernizing infrastructure, these reforms are expected to enhance operational efficiency and generate substantial revenue. The upcoming Mining in Motion conference will highlight further advancements, reinforcing Ghana’s position as a key player in the global mining industry.

Original Source: www.zawya.com