Ghana Chamber of Mines Rejects Plan to Shorten Mining License Duration to Nine Years, Citing Investment Risks
The Ghana Chamber of Mines has warned that a government proposal to slash the duration of prospecting licences to nine years risks eroding the competitiveness of the country’s exploration sector and shrinking the pipeline of new mining projects.
Presenting a position paper on proposed amendments to the Minerals and Mining Act (Act 703), Chamber CEO Ing. Dr. Kenneth Ashigbey said the measure could derail Ghana’s ability to fully map and realise its mineral potential.
He noted that nearly 90% of prospecting licences are Ghanaian-owned, and a shorter tenure would undercut efforts to boost local participation in the mining industry
“The proposed reduction shrinks the window for investors to make commercial discoveries and may push them toward lower-risk brownfield projects instead of pioneering new finds,” Ashigbey stated. “We recommend retaining the existing tenure and linking renewals to verifiable evidence of work undertaken.”
The Chamber’s intervention comes amid broad stakeholder consultations on reforms to the mining law, which also include proposals to halve the tenure of mining leases, shorten stability agreements, and make community development agreements mandatory.
The Chamber has cautioned that these measures, if passed without adjustments, could dampen investor confidence and reduce long-term capital inflows into the sector
Despite its concerns, the industry body said it remains committed to supporting reforms that ensure mining contributes more meaningfully to Ghana’s economy while sustaining investor interest.
