Ghana has initiated key policy reforms to strengthen its mining industry, focusing on local content development, modernization, and investment. Upcoming projects span mature and emerging sectors, with the Mining in Motion conference highlighting major developments. Important policies include a ban on raw bauxite export, the Green Minerals Policy, and Local Content Regulations, which collectively aim to enhance economic growth, job creation, and sustainability.
Over the past decade, Ghana has implemented transformative policy reforms that enhance its mining industry. Key areas of focus include local content development, modernization of infrastructure and equipment, and attracting investment. Consequently, numerous projects have emerged in established sectors such as gold and bauxite, alongside developing fields like lithium and rare earth elements.
Upcoming is the Mining in Motion (MIM) conference in Accra, which will highlight the positive outcomes of these policy reforms on Ghana’s mineral market. This event brings together policymakers, mining stakeholders, and international partners to discuss updates on significant projects and potential investment opportunities.
In June 2024, Ghana plans to implement a ban on the export of raw bauxite. Minister of Lands and Natural Resources Samuel Abu Jinapor explained this initiative aims to leverage the country’s approximately 900 million tons of bauxite reserves, promoting value addition to generate employment, improve infrastructure, and increase revenue through high-value product exports.
The Green Minerals Policy, enacted in August 2023, is designed to streamline access for critical mineral industry participants and enhance local content development. This policy removes fiscal barriers, thereby encouraging new exploration initiatives, such as Atlantic Lithium Limited, which received an environmental permit in September 2024 for its Ewoyaa Lithium Project, with production commencing in 2026.
Ghana also introduced the Local Content and Participation Regulation in 2020, which mandates the utilization of local expertise and resources in mining projects. This regulation has attracted significant investments, creating a skilled workforce and easing market entry. Notable developments include Electrochem Ghana Limited’s plan to hire 3,000 employees for increased salt production and Zijin Mining Group’s $1 billion acquisition of a stake in Newmont’s Akyem Gold Mine.
Ghana’s Equipment Tracking Regulations, enacted in 2020, aim to modernize mining infrastructure by monitoring machinery operations. These regulations have yielded increased operational efficiency and sustainable practices, leading to substantial revenue growth. The Minerals Income Investment Fund generated $1.02 billion from gold monetization in 2024, with Goldstone Resources reporting a 34% rise in gold production at Homase Mine due to infrastructure enhancements.
The Mining in Motion 2025 Summit offers a platform for industry leaders to discuss developments in Ghana’s mining landscape. Interested participants can register at www.MininginMotionSummit.com. For sponsorship inquiries, please contact Sales@ashantigreeninitiative.org.
The Ashanti Green Initiative aims to promote environmental restoration and community development in Ghana through sustainable practices in mining. Under the leadership of Nana Kwaku Duah, the initiative fosters partnerships for impactful change, focusing on climate advocacy and responsible resource management.
Energy Capital&Power serves as a leading investment platform in Africa, connecting stakeholders across energy and mining sectors to facilitate collaboration and investments. Through events and reports, it strives to unite the industry for mutual growth and success.
The policy reforms undertaken by Ghana in its mining sector have positioned the country for significant growth and innovation. Initiatives like the raw bauxite export ban, the Green Minerals Policy, and the Local Content Regulations are fostering investments and enhancing local participation. The focus on monitoring equipment use further contributes to efficiency and sustainability, allowing Ghana to generate substantial revenue and bolster its mineral market. The upcoming Mining in Motion 2025 Summit is poised to showcase these advancements, reinforcing Ghana’s commitment to transforming its mining landscape.
Original Source: www.zawya.com
