Ghana is set to witness a significant surge in the number of mining companies operating in the country by the end of next year, as investor interest in the sector continues to grow, according to Isaac Andrews Tandoh, Acting Chief Executive of the Minerals Commission.
Mr. Tandoh disclosed this on the PM Express Business Edition of JoyNews, noting that many investors are actively submitting proposals to participate in Ghana’s mining industry, including potential takeovers of key operations such as the Goldfields Damang Mines in the Western Region.
“We have a lot of mining firms that want to come into the country, and by the close of next year, the total number of mining companies operating in the country could witness some significant increase,” he explained.
The government is currently reviewing all submissions to ensure it selects proposals that serve the best interests of Ghanaians and host communities where mining activities take place. A committee has been established to oversee the transition once the one-year extension granted to Goldfields ends in April 2026.
The committee will assess all interests and make recommendations to the government on the next line of action.
Parliament in July 2025 approved a one-year transitional mining lease agreement between the Government of Ghana and Abosso Goldfields Limited for continued operations at Damang.
The lease follows the expiration of the previous agreement in April 2025 and is explicitly non-renewable, prohibiting any extension, transfer, or related transactions beyond April 2026.
Mr. Tandoh dismissed concerns that ongoing reviews of mining regulations were deterring investment. “Current market data does not support these claims. We have more companies that have come in to commence mining,” he said, emphasizing that the sector continues to attract fresh capital.
The Minerals Commission is also seeking to strengthen support for host communities under the revised mining law. Mr. Tandoh revealed that the government wants to move away from ad hoc corporate social responsibility programs to initiatives that are sustainable and trackable, with proposals for mining firms to allocate a portion of their production to local development.
On efforts to combat illegal mining, known locally as galamsey, Mr. Tandoh described the challenge as “a marathon and not a single race,” stressing the government’s long-term commitment to addressing the issue.
With increasing investor interest, structured community support initiatives, and ongoing regulatory reforms, Ghana’s mining sector is poised for a period of robust expansion, promising economic benefits for both investors and local communities.
