The newly elected President of the Ghana Chamber of Mines, Fred Attakumah, has outlined an ambitious agenda focused on growing mineral production, deepening local content and strengthening environmental, social and governance (ESG) standards across the mining industry.
Speaking in an interview after assuming office at the Chamber’s 98th Annual General Meeting in Accra, Attakumah said his administration would focus on three strategic priorities aimed at enhancing the sector’s contribution to Ghana’s economy.
According to him, the first priority is expanding the mining industry through increased investment and production.
He noted that mining remains Ghana’s most significant contributor to foreign exchange earnings and plays a critical role in supporting economic growth.
Mining contributes more than gold, oil and gas and many other sectors combined when it comes to foreign exchange returns. If we are able to grow the sector, everybody benefits,” he said.
Attakumah stressed the need for government and industry to work together to create a stable and competitive policy environment capable of attracting both domestic and foreign investment.
He said increased investment would help raise production levels across Ghana’s mineral portfolio, including gold, bauxite and manganese.
The second pillar of his agenda focuses on expanding local content and creating stronger linkages between mining companies and Ghanaian businesses.
According to him, mining should serve as a catalyst for industrialisation rather than simply relying on imported goods and services.
We do not want a situation where mining simply brings in foreign inputs and the money goes outside the country. We want to leverage mining to build manufacturing capacity in Ghana so that local businesses grow, create jobs and contribute more to socio-economic development,” he explained.
Attakumah said the Chamber would work closely with government and stakeholders to increase opportunities for Ghanaian suppliers, contractors and service providers within the mining value chain.
The third priority, he said, is strengthening environmental, social and governance (ESG) performance, which is increasingly becoming a key requirement for mining companies globally.
He noted that the future of mining would depend not only on profitability but also on how effectively companies manage environmental impacts and contribute to community development.
The mines of the future will be those that prioritise ESG issues. Mining is not an enclave. There are environmental issues, people issues and community development concerns that must be addressed,” he said.
Attakumah added that the Chamber would continue collaborating with government to improve living conditions in mining communities and ensure that host communities benefit more directly from mining activities.
On the issue of exploration, the new Chamber President welcomed government's recent decision to remove Value Added Tax (VAT) on exploration activities, describing it as one of the most significant policy measures to improve Ghana’s competitiveness as a mining destination.
He explained that the VAT regime had previously discouraged exploration investment by increasing operational costs and making Ghana less attractive compared to competing jurisdictions such as Côte d’Ivoire and Burkina Faso.
The removal of VAT means exploration companies can now spend more of their investment directly on exploration activities rather than losing a significant portion to taxes. We expect this to stimulate both greenfield and brownfield exploration,” he stated.
Attakumah expressed optimism that increased exploration activity would lead to new discoveries and support long-term growth in Ghana’s mining sector.
He also called for continued dialogue between government and industry on proposed regulatory reforms, stressing that policies should create value for all stakeholders, including investors, government, employees, communities and mining companies.
We expect to continue engaging with government on the various policy initiatives to ensure that government gets what it needs, while investors, communities and all stakeholders within the mining ecosystem also benefit,” he said.
Attakumah succeeds Michael Edem Akafia as President of the Ghana Chamber of Mines and takes office at a time when the sector is experiencing strong growth, with gold production reaching a record 5.94 million ounces in 2025 and mineral export earnings rising to more than US$21 billion.
His appointment comes as government and industry stakeholders work to balance increased national benefits from mining with the need to maintain Ghana’s competitiveness as one of Africa’s leading mining destinations.
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