The President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, has urged government, industry, labour, communities, and civil society to deepen collaboration to secure a modern, ethical and competitive mining sector capable of transforming Ghana’s economy for generations.
Speaking at the 11th Ghana Mining Industry Awards in Accra, Mr. Akafia said the mining industry stood “at a defining moment” and needed stability, foresight and shared responsibility to unlock its full potential.
As part of this push, he praised the government for scrapping VAT on prospecting and exploration activities, a longstanding request by the Chamber. He described the move as a forward-looking decision that will stimulate investment and safeguard Ghana’s future mineral pipeline.
“This move secures the future of mining and strengthens investor confidence,” he noted, adding that the Chamber was grateful to President John Dramani Mahama and Finance Minister Dr. Ato Forson.
Mr. Akafia stressed that while mining remains the backbone of Ghana’s economy, the sector is operating in an era of heightened competition and rising societal expectations. He therefore called for consistency in fiscal and regulatory policies to avoid discouraging long-term capital.
“Mining investments are high-risk and span decades. Countries that succeed are those that build trust and stability around their mineral governance frameworks,” he cautioned.
Linked to this, he urged the government to adopt a balanced approach to the proposed sliding-scale royalty regime, warning that overly burdensome rates could slow investment and growth.
The Chamber President also renewed calls for a dedicated Minerals Revenue Management Act, similar to the petroleum revenue framework, to improve transparency, strengthen accountability and ensure the country uses mineral revenue sustainably.
“The time has come for Ghana to institutionalise a transparent system that secures today’s mineral wealth for both current and future generations,” he emphasized.
Turning to the threat of illegal mining, Mr. Akafia commended government’s ongoing efforts but said the escalating attacks on security personnel and regulatory bodies were unacceptable.
“The rule of law must prevail. Those who attack state institutions must be brought to justice decisively,” he said, warning that galamsey was not just an environmental crisis but a threat to national security.
He also highlighted the need for mining communities to experience visible and lasting improvements from mineral wealth. While the industry invested $28 million in community development in 2024, he insisted that national mineral revenues must be reinvested strategically to transform host towns into hubs of innovation and opportunity.
Mr. Akafia further underscored the global shift toward automation, digitalisation and decarbonisation in mining, calling on Ghana to position itself for the future by supporting technology adoption, skills development and genuine made-in-Ghana local content.
In positioning the country for this new phase, he said the Chamber was ready to partner the government in implementing its “Mining Hub Study” to develop Ghana not only as a major producer but also as a centre for mining services, innovation and sustainability.
He also used the occasion to salute the workers whose efforts drive the industry, from engineers and geologists to plant operators, contractors and support staff, stressing that Ghana’s mining progress depends on unity and shared purpose.
“This awards night is about vision and responsibility,” Mr. Akafia said. “If we work together with integrity and innovation, Ghana’s mineral wealth will be a blessing for generations to come.”
