'You’re crippling the mining sector' – Minority criticises government over new policies

The Minority in Parliament has accused the government of harming Ghana’s mining sector. They claim harmful policies are endangering growth and foreign investment.

In a letter dated April 21, 2025, the opposition warned of job losses. The letter was sent to the Ministers for Finance and Lands and Natural Resources. It described recent decisions as “potentially dire” for Ghana’s economy.

The letter was signed by three MPs: Kojo Oppong Nkrumah, Kwaku Ampratwum Sarpong, and Dr. Mohammed Amin Adam. They criticized two new tax measures introduced in 2025. One is a 3% Growth and Sustainability Levy on gross mining volumes.

The Minority stated these levies worsen financial difficulties for struggling mines. They also argued that miners of other minerals face unfair tax burdens despite stable prices.

Another concern is the new Goldbod Act, which bans foreign entities from trading gold. The Minority believes this sends a negative message to investors. They argue it violates the 1992 Constitution by retroactively affecting existing rights.

Additionally, they condemned the government's refusal to renew Gold Fields Ghana’s Damang mine lease. This decision undermines investor confidence and discourages long-term commitments.

“The government could have renegotiated better terms instead,” the letter stated. Another major issue is the defunding of 80% of the Minerals Income Investment Fund (MIIF). The Minority sees this as a setback for Ghana's equity participation in mining.

They also expressed concern about a violent attack at a mining site that left eight dead. According to them, anti-investor rhetoric fueled this violence, deepening investor fears due to stalled investigations.

The group criticized the abolition of Community Mining Schemes, arguing it encourages illegal mining. They believe these schemes should have been regulated instead of scrapped.

In closing remarks, the Minority urged the government to rethink its approach. They want lease renewals restored and hostile rhetoric toned down. A clear strategy to support local mining firms is also needed.

“This is when government must attract foreign direct investment,” they said.