Gov’t to Withhold Mining Leases from Companies— In Ghana, mining companies have long operated with the understanding that extracting gold means extracting wealth. But under the watchful eye of the new Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, the rules of the game are changing. Simply put: no local investment, no mining lease.
If you’re a mining company that doesn’t invest in the community, you might just dig yourself into a hole, without a lease to get you out.
The Minister made it clear that he will be hesitant to extend mining leases to companies that fail to contribute meaningfully to Ghana’s development. Speaking during a meeting with the management of Goldfields Ghana Limited on Friday, February 21, 2025, in Accra, he laid down the standard.
“We want mining companies to understand and appreciate their responsibilities to host communities,” he emphasized.
Raising the Bar for Mining Firms
Gone are the days when mining companies could pack their bags with profits and leave host communities struggling with dust and potholes, but the government is now prioritizing mining firms that actively support infrastructure, job creation, and community development.
The Minister urged Goldfields Ghana to deepen its local content initiatives, describing them as essential in turning mining revenues into real benefits for the people, and he also touched on the much-anticipated Goldfields-AngloGold Ashanti joint venture, assuring Goldfields that the government will fast-track the necessary approvals to create Africa‘s largest gold mine.
Goldfields Ghana welcomed the Minister’s position, with Acting Managing Director, Mr. Elliott Twum, reaffirming the company’s dedication to sustainable mining, as he assured the Ministry that Goldfields remains committed to “developing mining projects that benefit the host communities and the nation at large.”
His colleague, Vice President of External Affairs, Mr. Michael Edem Akafia, echoed the sentiment, saying that increased collaboration between the Ministry and mining firms would lead to “more sustainable improvements in the livelihoods of local communities,” and he pointed to Goldfields’ previous investments, such as the Tarkwa-Damang road projects, oil palm plantations, and agribusiness initiatives, as proof that mining can, and should, positively impact communities.
Last Updated on April 2, 2025 by samboad
