The Ghana Chamber of Mines has warned that growing calls for the government to reject the renewal of Gold Fields’ Tarkwa Mine lease could weaken investor confidence and threaten Ghana’s reputation as a stable destination for long-term mining investment.
The caution follows recent demands by the Institute of Economic Affairs (IEA) for the government not to renew the mining lease of Gold Fields at Tarkwa, arguing that the move could create opportunities for greater Ghanaian ownership in the mining sector.
Speaking on Eyewitness News on Thursday, May 14, Chief Executive Officer of the Ghana Chamber of Mines, Kenneth Ashigbey, stated that policy certainty remains critical for attracting both local and foreign investors, especially in an industry that requires huge capital investments before production begins.
Mr. Ashigbey explained that investors would be reluctant to commit resources to Ghana if they are uncertain about the security of their leases or fear sudden changes to agreements after making significant investments, warning that such uncertainty could discourage transformational investments needed to grow the country’s mining sector.
“Let’s encourage our people to also invest in exploration so that we can identify new mineral resources. Exploration activities are already ongoing, and several new projects are expected to commence,” he said.
Mr. Ashigbey stressed that maintaining stable and predictable mining policies is essential for Ghana’s economic growth, insisting that investors must have confidence that the country’s laws and agreements will be respected throughout the lifespan of their investments.
