Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, has clarified that the government has not adopted a blanket policy of nationalisation in Ghana’s mining sector.
His comments come amid ongoing debate between the Institute of Economic Affairs (IEA) and the Ghana Chamber of Mines over the proposed 20-year lease extension for Gold Fields’ Tarkwa Mine.
Speaking at the Ghana Chamber of Mines Breakfast Meeting, Mr. Armah-Kofi Buah said the government’s handling of the Damang Mine should be seen as a case-specific intervention rather than a broader policy direction for the mining industry.
“We are committed to working with investors who come to Ghana with a win-win mindset, get a good return on their investment, and know that they will leave value for Ghana.
“All the issues that came up, whether it is Damang, were dealt with on a case-by-case basis. The Government of Ghana has not fashioned out a blanket policy of nationalising anything. Our goal is to ensure that we empower Ghanaians in the industry,” he said.
Meanwhile, the Chief Executive Officer of the Ghana Chamber of Mines, Ing. Ken Ashigbey, welcomed the Minister’s remarks, describing them as reassuring for stakeholders in the mining sector.
“It is reassuring to hear the Minister talk about the fact that government policy is not about nationalisation but about still attracting investors who would come into this country and ensure that once they get their return on investment, they also leave some value behind; build capacity, transfer knowledge, and leave legacies,” he said.
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