Nationalisation of minerals requires strategy, not impulse—mining expert cautions govt

Mining consultant Wisdom Gomashie has urged the government to manage Ghana’s natural resources carefully. This call comes after the government decided to take over the Damang Mine. This decision followed the expiration of Gold Fields’ lease.

On April 24, Gomashie spoke on the Asaase Breakfast Show. He expressed concern that the government's handling of this situation could create instability. He warned it might damage Ghana’s international reputation.

Gomashie said, “Government’s initial handling was problematic.” He noted it seemed like an arbitrary takeover. This perception could harm Ghana's image globally, similar to Tanzania's arbitration losses in resource disputes.

He suggested a more collaborative approach for future nationalization efforts. He emphasized engaging competent local companies in these initiatives. “There are strong local players—Engineers and Planners, Rocks York International, Rabotech,” he explained.

Gomashie believes sustainable development in mining requires policy consistency and legal clarity. “Our minerals belong to all Ghanaians,” he stated firmly. If nationalization is pursued, he advocates for a clear legislative roadmap instead of quick reactions. This approach would help build trust and attract sustainable investment.