Industry leaders, policymakers and development experts have called for bold policy reforms to ensure Ghana derives greater economic value from its vast mineral resources, stressing that the country's mining sector must move beyond mineral extraction to become a catalyst for industrialisation, job creation and sustainable development.
The call was made at the Ghana Chamber of Mines' Mining Forum, held under the theme "Strategic Mining, Value Retention and Development." The forum brought together senior government officials, mining executives, policy analysts and industry stakeholders to deliberate on strategies for increasing local value addition, strengthening domestic supply chains and ensuring that mining revenues contribute more significantly to Ghana's long-term economic transformation.
Opening the discussion, Chief Executive Officer of the Ghana Chamber of Mines, Ing. Kenneth Ashigbey, underscored the need for a strategic national approach that positions mining as a driver of inclusive economic development rather than merely a source of export earnings.
According to him, while Ghana remains one of Africa's leading gold producers, there is still considerable opportunity to deepen local participation across the mining value chain through stronger policies, investment in local industries and improved collaboration between government and the private sector.
Our focus should not simply be on extracting minerals. We must deliberately create systems that retain more value within Ghana by promoting local procurement, encouraging mineral beneficiation, supporting indigenous businesses and building the technical capacity of our workforce," he said.
Ashigbey noted that increasing value retention would not only improve government revenues but also stimulate industrial growth, create quality employment opportunities and strengthen the resilience of the national economy.
Managing Director of AngloGold Ashanti Ghana, Samuel Boakye Pobee, said the mining industry continues to play a critical role in Ghana's socio-economic development through taxes, royalties, infrastructure investment, employment and community development initiatives.
He explained that sustainable value creation requires long-term partnerships among mining companies, government, host communities and local businesses.
Mining is far more than the extraction of minerals. It is about creating opportunities for local enterprises, investing in people and ensuring that mining leaves a lasting legacy for communities long after operations have ended," Pobee said.
He added that responsible mining practices, innovation and local content development remain central to AngloGold Ashanti's operations and are essential for enhancing the sector's contribution to national development.
Policy Lead for Mining and Minerals at the Africa Centre for Energy Policy (ACEP), Mabel Acquaye, urged government to pursue policy reforms that promote transparency, accountability and greater domestic participation in the mining industry.
She observed that although Ghana has benefited significantly from mineral exports over the years, greater emphasis should now be placed on value addition, downstream processing and stronger linkages with manufacturing and other productive sectors of the economy.
Value retention should become a deliberate national policy objective. This requires investment in mineral processing, stronger support for local businesses, transparent governance and policies that maximise the developmental benefits of our natural resources," she said.
Acquaye further stressed the importance of balancing investor confidence with national interests, arguing that effective regulation can simultaneously encourage investment while safeguarding Ghana's long-term development objectives.
Deputy Chief Executive Officer of GoldBod, Richard Nunekpeku, highlighted the importance of institutional collaboration in achieving meaningful value retention across the mining industry.
He said stronger coordination between regulators, mining companies, financial institutions and local enterprises would create an enabling environment for sustainable investment and innovation.
No single institution can achieve this objective alone. Strategic collaboration among all stakeholders is necessary to unlock greater value from our mineral resources and ensure that mining contributes meaningfully to economic transformation," he noted.
Advisor at the Ministry of Finance, Theo Acheampong, emphasised the critical role of sound fiscal and macroeconomic policies in supporting a competitive and sustainable mining industry.
He explained that creating the right policy environment would encourage responsible investment while ensuring that the country receives optimal returns from its natural resources.
Fiscal stability, policy certainty and effective governance are fundamental to attracting long-term investment while ensuring that the benefits of mining are shared broadly across the Ghanaian economy," he said.
Throughout the forum, participants agreed that Ghana's mining industry must increasingly focus on local content development, technological innovation, environmental sustainability and human capital development if it is to remain globally competitive.
Stakeholders also emphasised the need for stronger partnerships between government, industry, academia and local communities to build resilient supply chains, develop skilled talent and expand opportunities for Ghanaian businesses to participate more actively in the mining ecosystem.
The discussions come at a time when Ghana is seeking to maximise returns from its natural resources while pursuing broader economic diversification and industrialisation. Industry leaders believe that strategic reforms aimed at increasing local value retention could significantly enhance the mining sector's contribution to employment, revenue generation and sustainable national development.
The Ghana Chamber of Mines said the forum forms part of its broader commitment to fostering constructive dialogue on the future of the mining industry and promoting policies that strengthen the sector's role as a key pillar of Ghana's economic growth.
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