Ghana is preparing a major overhaul of its mining laws that could give the government significantly greater control over the country’s mining companies and mineral resources. A draft of the proposed Minerals and Mining Bill, 2026 would allow the mines minister to require mining companies to issue the state a special share at no cost, giving the government consent rights over certain major transactions.
The proposal is part of a broader attempt to reshape Ghana’s mining sector, Africa’s largest gold-producing industry, and increase the economic benefits the country receives from its mineral wealth. The draft legislation was reviewed by Reuters and would replace Ghana’s 2006 Minerals and Mining Act.
A New “Special Share” For The State.
Under the proposed legislation, Ghana would retain its existing 10% free-carried interest in mining projects while introducing the possibility of an additional special state share.
That special share could give the government veto or consent rights over important corporate decisions, including transfers of mining leases, voluntary liquidation of companies and the disposal of significant overseas assets connected to Ghanaian mining operations.
Companies required to issue the special share would have two months to comply. Failure to do so could result in fines equivalent to as much as $150,000.
The measure would give the government a stronger role in determining what happens to strategically important mining assets, particularly when ownership or control of a project is being transferred.
Mining Companies Could Face Shorter Leases.
The proposed reforms go beyond government ownership rights. The draft bill would also reduce the maximum duration of mining leases.
Under the existing framework, mining leases can run for up to 30 years. The new proposal would reduce this to 15 years or the projected life of the mine, whichever is shorter.
Existing mineral-right holders would also have to transition into the new licensing framework when seeking renewals, although the draft provides for priority consideration for equivalent licences.
The government has also proposed stronger domestic processing requirements. Future regulations could require companies to process minerals locally and restrict the export of unprocessed mineral concentrates.
That provision could become particularly important as Ghana seeks to move beyond exporting raw minerals and capture more value through refining and processing inside the country.
Why Ghana Is Changing The Rules.
The proposed legislation follows a government push to increase the contribution of mining to Ghana’s economy.
Mining accounts for about 14% of Ghana’s gross domestic product and more than half of the country’s export earnings, making the industry one of the country’s most important sources of foreign exchange. Major international operators active in Ghana include Newmont, Gold Fields, Zijin Mining and Perseus Mining.
Ghana’s government has previously confirmed that it was reviewing the 2006 mining law. In July, the Ministry of Lands and Natural Resources announced that Cabinet had endorsed a comprehensive review and forwarded the revised legislation to Parliament for consideration.
The reform agenda reflects a wider policy debate across Africa about how mineral-rich countries can obtain greater economic benefits from resources extracted within their borders.
For Ghana, the focus is not simply on increasing government participation but also on encouraging local processing and strengthening oversight of companies operating in the country’s mining sector.
Mining Industry Raises Questions.
The proposed changes are likely to generate debate among mining companies and investors.
One mining executive told Reuters that provisions such as the shorter lease periods and the proposed special state share had not been part of earlier industry consultations. Mining companies are expected to submit their own proposals as Parliament considers the legislation.
The executive also said the industry hoped the government would continue discussions over some of the more contentious provisions before lawmakers debate the bill.
The legislation could therefore change before it becomes law. Its current provisions represent a draft rather than a final regulatory framework.
Parliament could take up the bill when it resumes in October, meaning the coming legislative process will determine which elements ultimately survive.
Ghana Wants More Value From Its Gold.
The debate comes at a time when Ghana is trying to extract greater domestic value from its natural resources.
Gold has long been central to Ghana’s economy, but exporting minerals without extensive domestic processing limits the amount of value that remains within the country. The proposed local-processing provisions are designed to address that gap by encouraging more activity further up the mineral value chain.
If adopted, the new framework could also give the government greater influence over the ownership and strategic direction of major mining assets.
The central question now is how Ghana balances stronger state oversight with the need to maintain a mining environment capable of attracting long-term investment. The answer will emerge through the parliamentary process as lawmakers, government officials, mining companies and other stakeholders debate the final shape of the country’s new mining law.
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