The Ghana Chamber of Mines has cautioned the government against proposals to cut the tenure of mining leases from 30 years to 15 years, warning that such a move could undermine investment inflows, limit community benefits, and weaken Ghana’s competitiveness in the global mining sector.

Presenting the Chamber’s position paper on proposed amendments to the Minerals and Mining Act (Act 703) at a press briefing on Monday, September 1, 2025, Chief Executive Officer Dr Kenneth Ashigbey emphasised that mining projects are long-term and capital-intensive ventures, often requiring more than a decade of preparatory work before production begins.

“Reducing the tenure of mining leases to 15 years will curtail the available time for recouping investments, lower a project’s net present value, and compromise the viability of deep-seated or marginal ore bodies,” he said.

He further warned that shorter lease periods would discourage near-mine exploration, encourage “high-grading” of deposits, sterilise marginal ore bodies, and reduce corporate social investments in host communities.

The Chamber therefore urged policymakers to maintain the current 30-year tenure under Act 703, alongside flexible renewal arrangements.

According to the Chamber, this is crucial for sustaining investor confidence, ensuring stable government revenues, and supporting long-term socio-economic development in host communities.

SP/MA

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