The government is implementing a series of regulatory reforms aimed at accelerating growth in the mining sector and strengthening Ghana’s position as a leading mining destination in West Africa, the Minister of Lands and Natural Resources, Emmanuel Armah Kofi-Buah, has announced.

He said the mining industry remained a strategic pillar of the economy and had been prioritised under government’s broader agenda to stabilise the economy, promote industrialisation and build resilience against global economic shocks.

Addressing the 98th Annual General Meeting (AGM) of the Ghana Chamber of Mines (GCM) in Accra on Friday, Mr Kofi Buah, said ongoing reforms were intended to improve regulatory certainty, enhance operational efficiency, reduce delays in licensing and permitting processes, and attract increased investment into the sector.

The meeting was held on the theme: ‘How Can Responsible Mining Accelerate Ghana’s Development?’

Mr Kofi Buah disclosed that the review of the Minerals and Mining Act, 2006 (Act 703), as well as the National Mining Policy, was at an advanced stage and would soon be submitted to Parliament for consideration.

According to him, the reforms would strengthen regulatory efficiency, improve accountability, deepen environmental protection, and enhance community participation in mining activities.

He explained that government was determined to create an enabling environment for investors while ensuring that Ghana derived maximum long-term socio-economic benefits from its mineral resources.

“The objective is to maintain an attractive and competitive investment climate while safeguarding the interests of present and future generations,” he stated.

Mr Kofi Buah also reiterated government’s commitment to strengthening local content policies to increase Ghanaian participation in the sector and create more employment opportunities.

The President of the Ghana Chamber of Mines, Frederick Attakumah, said mining continued to play a strategic and foundational role in Ghana’s development through export earnings, tax revenue generation and employment creation.

He noted that the sector sustained thousands of direct and indirect jobs and contributed significantly to infrastructure development, education and community development across the country.

Mr Attakumah said his administration would focus on three key priorities: increasing national gold production from the current level of about five million ounces to seven million ounces, deepening local value creation and industrialisation, and strengthening environmental, social and governance standards.

He called for stronger collaboration between government, mining companies and other stakeholders to unlock the full potential of the industry.

Presenting the Chamber’s 2025 performance report, the immediate past President, Michael Edem Akafia, said Ghana recorded significant growth in mineral production, particularly gold, during the year under review.

He stated that attributable gold production increased by 23.4 per cent, rising from 4.82 million ounces in 2024 to 5.94 million ounces in 2025, adding that small-scale mining production grew by 63.8 per cent to 3.11 million ounces, accounting for 52.4 per cent of total national gold output and overtaking large-scale mining for the first time in more than a century.

Mr Akafia disclosed that mineral export earnings rose sharply from $11.98 billion in 2024 to $21.36 billion in 2025, representing a 78 per cent increase and boosting the sector’s share of Ghana’s total merchandise exports.

He said the mining and quarrying sector remained the largest contributor to direct domestic tax revenue, generating GH¢23.11 billion in taxes in 2025, compared to GH¢20.87 billion in the previous year.

The Chief Executive Officer of the Ghana Chamber of Mines, Kenneth Ashigbey, also reaffirmed the Chamber’s commitment to promoting responsible mining, policy stability, sustainability and stakeholder collaboration to ensure the continued growth and competitiveness of Ghana’s mining industry.

The Chief Executive Officer of the Minerals Commission, Mr Isaac Tandoh in remarks made on his behalf by his Deputy, Mr Maxwell Klu, pledged the Commission’s commitment to reforms to enhance the ease of the acquisition of mining lease permits.

Photo: Caption: Mr Akafi (second from right) adorns Mr Attakumah with a sash as he hands over of the GCM Presidency, as Mr Armah Kofi-Buah (right) and other dignitaries look on.