-To Boost Sector Growth
The Minister for Lands and Natural Resources, Samuel Jinapor, has urged the next government to prioritize removing Value Added Tax (VAT) on mining exploration.
Speaking at the 10th Ghana Mining Industry Awards, he highlighted the critical need for tax reforms to attract investment, solidify the country’s position as Africa’s leading gold producer, and ensure sustainable growth in the sector.
“Exploration drives the industry, and we must incentivize it. Unfortunately, we could not finalize a review of this tax during my tenure, but I strongly recommend that the next government prioritizes this matter,” Mr. Jinapor urged.
The Minister noted that during his tenure, the Ministry engaged stakeholders, including the Ghana Chamber of Mines, to address the tax burden, but efforts were delayed by parliamentary challenges.
He stressed that exploration is the lifeblood of the mining sector, requiring urgent support to unlock its full potential.
The Minister further recognised the importance of ensuring mine security and called on companies while also calling on mining companies to invest in mining communities to strengthen sustainable development.
Moreover, he emphasized the importance of maximizing the mining sector’s potential through value addition, local content promotion, and integration with other industries.
He expressed optimism about ongoing projects, such as Ghana’s first lithium mine and a US$450 million manganese refinery, while reiterating that addressing VAT on exploration will be pivotal for the sector’s continued momentum.
The Ghana Mining Industry Awards celebrated a decade of excellence, recognizing a total of 25 companies and individuals for innovation, safety, and sustainability contributions to one of the country’s most vital economic sectors.
