Ghana’s recent policy reforms focus on local content, modernization, and infrastructure improvement in the mining sector, driving growth in both established and emerging markets. Highlights include a raw bauxite export ban, the Green Minerals Policy, and the Local Content Regulation, all promoting investment and local participation. The upcoming Mining in Motion conference will showcase these developments, fostering collaboration and informing stakeholders on future projects.
Over the past decade, Ghana has implemented transformative policy reforms targeting local content development, infrastructure enhancement, and modernization of equipment. Consequently, numerous projects have emerged within established sectors such as gold, bauxite, manganese, and diamonds, while new sectors like lithium, graphite, rare earth elements, and iron ore are gaining traction.
The forthcoming Mining in Motion (MIM) conference will gather policymakers, mining stakeholders, and global partners in Accra to discuss the positive impacts of these reforms on Ghana’s mineral sector. Presenters will offer updates on significant initiatives, including investment prospects and collaborations.
Notably, Ghana plans to enact a law effective June 2024 banning the export of raw bauxite. This initiative, highlighted by Samuel Abu Jinapor, Minister of Lands and Natural Resources, aims to monetarily exploit Ghana’s 900 million tons of bauxite reserves. The law seeks to enhance employment opportunities, promote infrastructure development, and increase revenues through high-value bauxite exports.
In August 2023, Ghana established the Green Minerals Policy, which simplifies processes for critical mineral industry stakeholders and fosters local content growth. This policy aims to align Ghana with the global energy transition market. A result of this initiative is Atlantic Lithium Limited obtaining an environmental permit for its Ewoyaa Lithium Project, with production anticipated in 2026.
Ghana has also introduced the Local Content and Participation Regulation in 2020, mandating that Ghanaian expertise and materials be utilized in mining. This framework encourages investments from global partners by streamlining project deployments and ensuring a skilled workforce is readily available. For example, Electrochem Ghana Limited plans to grow its workforce significantly, while Zijin Mining Group seeks a $1 billion stake in Newmont’s Akyem Gold Mine.
To enhance operational efficiency, Ghana’s Equipment Tracking Regulations enacted in 2020 regulate the use of earth-moving and mining equipment. These regulations have resulted in increased production across the mining value chain, exemplified by the $1.02 billion in revenue from gold monetization reported by the Minerals Income Investment Fund in 2024. Goldstone Resources also noted a 34% increase in gold production due to infrastructure improvements.
To stay current with industry trends, network with leaders, and engage in discussions about policies impacting both small-scale and large-scale mining in Ghana, consider attending the Mining in Motion 2025 Summit. More information can be found at www.MininginMotionSummit.com, or contact [email protected] for sponsorship opportunities.
The Ashanti Green Initiative focuses on environmental restoration and community development in Ghana. Led by Nana Kwaku Duah, the foundation promotes sustainable practices in mining and agriculture to combat climate change while empowering local communities through various programs.
Energy Capital & Power serves as a premier investment platform for Africa’s energy and mining sectors, promoting collaboration and investment across the value chain from oil and gas exploration to renewable energy.
Ghana’s mining industry is undergoing significant transformation due to strategic policy reforms. These reforms aim to enhance local content, improve infrastructure, and modernize mining practices, leading to increased production and investment. Upcoming forums like the Mining in Motion conference serve as platforms to highlight progress, investment opportunities, and collaborations that can further strengthen the sector. As the country continues to implement these reforms, it stands poised for sustained growth in both traditional and emerging mining markets.
Original Source: www.zawya.com
