Ghana’s cabinet has approved amendments to its mining law for submission to parliament, Mines Minister Emmanuel Armah-Kofi Buah said on Wednesday, as part of government efforts to increase oversight \u200bof the key revenue-earning sector and curb illegal mining.<\/p>\n
Ghana, Africa’s top gold \u200bproducer, has been implementing reforms aimed at boosting state revenue and \u2060increasing local participation in its mineral wealth.<\/p>\n
This year, it introduced a sliding-scale \u200bgold royalty regime linked to prices and signalled plans to phase out fiscal stability \u200bagreements, a move that could affect major miners including Newmont, Gold Fields, AngloGold Ashanti, Zijin and Perseus.<\/p>\n
Ghana’s Minerals and Mining Act, 2006 has been in force for nearly two decades \u200band requires an overhaul to provide an updated, coherent and forward-looking legal framework \u200bfor the sector, Buah told a news conference in Accra.<\/p>\n
“This policy seeks to indigenize mining \u200cby \u2060strengthening local content through domestic value addition to minerals, improve linkages to manufacturing industry, and deal decisively with the menace of illegal mining and the protection of our environment.”<\/p>\n
The proposed law also creates district mining committees, giving host communities an \u200bearly role in \u200bthe licensing process.<\/p>\n
Reconnaissance \u2060and prospecting licences will be replaced by a single exploration licence capped at five years, with extensions contingent on a \u200breview of an initial two-year work programme.<\/p>\n
\u201cIf for five years \u200byou can\u2019t \u2060act, we will take it from you\u201d, Buah said, adding that the measure targets speculators who hold licenses without investing in exploration.<\/p>\n
Mining leases would remain capped at \u206020 years, \u200bbut companies would now be required to sign \u200bseparate community development agreements negotiated directly with host communities, rather than decided unilaterally by the mining \u200bcompany, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghana’s cabinet has approved amendments to its mining law for submission to parliament, Mines Minister Emmanuel Armah-Kofi Buah said on Wednesday, as part of government efforts to increase oversight \u200bof the key revenue-earning sector and curb illegal mining. Ghana, Africa’s top gold \u200bproducer, has been implementing reforms aimed at boosting state revenue and \u2060increasing local […]<\/p>\n","protected":false},"author":1,"featured_media":19671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":5,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,3028,27],"tags":[5298,158],"class_list":["post-21434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-mining","category-west-africa","tag-emmanuel-armah-kofi-buah","tag-ghana"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=21434"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21434\/revisions"}],"predecessor-version":[{"id":21435,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21434\/revisions\/21435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/19671"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=21434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=21434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=21434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}