Mr Seth Terkper, Presidential Advisor on the Economy, has called on Ghana to prioritise local processing and value addition in the mining sector to maximise economic benefits from the country’s mineral resources.

He said moving beyond the export of raw minerals to developing domestic processing industries would increase export earnings, create employment opportunities and strengthen the country’s foreign exchange reserves.

Mr Terkper made the call at the China-Ghana Mining Cooperation Conference 2026 in Accra on Tuesday, where he represented the Chief of Staff.

The conference was held on the theme: “Innovation-Driven, Win-Win Cooperation, Advancing High-Quality China-Ghana Mining Cooperation.”

He said Ghana needed to reconsider its approach to mineral resource management in the context of its transition towards middle-income status and the changing nature of international development financing.

According to him, countries attaining middle-income status gradually lose access to grants and concessional financing, making domestic revenue mobilisation, industrial production and export earnings increasingly important.

He noted that grants, which previously accounted for about five per cent of Ghana’s revenue, had declined to approximately two per cent or less, compelling the country to rely more on domestic financing mechanisms.

Mr Terkper, a former Minister of Finance, therefore stressed the need to ensure that the mining sector generated sufficient economic returns to support national development.

He also urged the Government to carefully assess the fiscal implications of incentives granted to mining companies, including tax holidays and other concessions, to ensure that the country derived commensurate benefits.

He expressed concern about gold smuggling through unofficial export channels, saying the practice deprived the country of revenue and foreign exchange that could support economic development.

He said expanding local processing capacity was essential to retaining more value from mineral production.

“Because we are able to generate a higher value. And this must not just be seen in the context of mining, but it must be seen across all the sectors of the economy,” he said.

Mr Terkper further called for appropriate financing mechanisms to support local industries involved in processing and exporting value-added products.

He cited the establishment of the Export-Import Bank (EXIM Bank) as an important intervention to provide financial support for businesses seeking to expand exports beyond raw materials.

He urged the Association of China-Ghana Mining (ACGM) to approach mining cooperation from a broader national and continental development perspective, with emphasis on industrialisation, environmental protection and economic transformation.

Mr Kwame Ahumah, Director of Mines at the Ministry of Lands and Natural Resources, also underscored the need to strengthen linkages between mining and manufacturing.

He said the Government was pursuing policy and legal reforms to promote domestic processing and refining of minerals, including gold, bauxite, aluminium, iron and lithium.

He said the initiatives were aimed at developing integrated value chains, creating opportunities for local refining, aluminium production and battery manufacturing.

Mr Ahumah said Ghana was seeking investments that would establish processing plants, strengthen local supply chains, facilitate technology transfer and create employment.

He identified gold refining, bauxite and aluminium production, lithium processing, geological exploration and green mining technologies as areas offering opportunities for Chinese investors.


Story by: Andre Mustapha Nii Okai Inusah
Popularly Known As: Attractive Mustapha
Email: attractivemustapha@gmail.com
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