Chamber of Mines Advocates Mineral Revenue Management Law

The Ghana Chamber of Mines has reiterated its call for the establishment of a Mineral Revenue Management law to ensure transparency in the utilization of revenue generated from the country’s mining sector.

The proposed law, similar to the Petroleum Revenue Management Act, would provide a framework for how revenue from the mining industry should be allocated to support the country’s developmental activities.

Ghana’s mining sector has been a significant contributor to the nation’s Gross Domestic Product (GDP), export earnings, and government revenue over the years. However, the absence of visible legacy projects and a clear legal framework governing the use of mineral revenue has led to growing concerns among citizens about whether the country is truly benefiting from the sector.

The Chamber of Mines believes that enacting a legal regime for the management of mineral revenue would enhance transparency, allowing citizens to better understand and appreciate the sector’s contribution to national development.

Director of External Relations and Communication at the Chamber of Mines, Ahmed Nantogmah, reiterated this call and urged the government to ensure adequate security for licensed mining companies to operate without fear. He emphasized that commercial mining companies are committed to responsible mining practices, including safeguarding the environment, creating jobs, paying taxes, and sourcing goods and services locally to support the country’s development.

Nantogmah also expressed concern over the negative impact of illegal mining on the operations of responsible companies, calling for stronger government enforcement to combat the menace. He further urged the media to help distinguish between responsible mining companies adhering to Environmental, Social, and Governance (ESG) standards, and illegal mining activities that harm the environment.

According to the Chamber, 70 percent of the revenue generated by mining companies in Ghana is spent within the local economy. Nantogmah made these remarks while leading members of the Journalists for Business Advocacy (JBA) on a tour of several mining companies in the Western Region as part of the Chamber’s advocacy efforts. Some of the companies visited included Gold Fields, Tarkwa Mine, AngloGold Ashanti, Iduapriem Mine, and the Ghana Manganese Company Limited at Nsuta, near Tarkwa.

The Ghana Chamber of Mines represents the collective interests of companies involved in mineral exploration, production, and processing in the country.

By Christian Kpesese