The Institute of Economic Affairs (IEA) has raised serious concerns about recent shifts in Ghana’s mining and fiscal policy landscape, characterising them as potentially detrimental to national control over the country’s natural resources.
In a statement issued on 25 March 2026, the policy think tank highlighted the Minerals and Mining Royalty Regulations, 2025, the reduction of the Growth and Sustainability Levy (GSL), and the parliamentary ratification of the Ewoyaa lithium lease as developments that warrant scrutiny and public debate.
The IEA questioned the design of the new sliding‑scale royalty structure, noting that the effective rates, capped at 12% for gold and lithium and 5% for other minerals, could limit the state’s ability to capture “windfall profits” if global commodity prices surge. It also described projections that the regulations could cost the economy jobs as “exaggerated” and not grounded in solid evidence.
On the fiscal side, the institute criticised the government’s decision to reduce the Growth and Sustainability Levy from 3% to 1%, arguing that the adjustment may undercut efforts to maximise returns from mineral extraction. The IEA emphasised that fiscal policy should be “coherent, predictable, and aligned with long‑term national interest,” rather than reactive to investor pressures, and cautioned against diluting gains from royalty reforms through tax concessions.
The IEA was equally critical of the parliamentary approval of the Ewoyaa lithium lease, noting that a 15‑year agreement with minimal state participation and no explicit requirements for local processing does little to advance the government’s rhetoric on resource sovereignty. The institute reaffirmed its position that Ghana should move toward full resource ownership and pursue models where private operators are engaged through service contracts that preserve national control while promoting value addition and industrial transformation.
Drawing on global precedents, the IEA referenced countries such as Chile, Botswana, and Venezuela, where state ownership is combined with private sector service arrangements to capture higher value from extractive sectors without dampening investment interest. It concluded that Ghana faces a “once‑in-a‑generation opportunity” to rethink its mineral governance framework and secure long‑term economic benefits from its resource base.
