Ghana moves to make mining fund a strategic equity partner for greater local ownership

Mining consultant Ing. Wisdom Gomashie urged the Ghanaian government to reposition the Minerals Income Investment Fund (MIIF) from a passive royalty collector to an active equity partner in the extractive sector. Speaking at the 2026 West Africa Mining & Power Conference, he cited successful state‑owned models such as Botswana’s Debswana and Chile’s Codelco, arguing that a structured partnership framework would maximise long‑term national benefits, build technical capacity and attract stable foreign investment. Gomashie also warned that recent increases in mineral royalties to a sliding scale of up to 12% could undermine project pipelines unless accompanied by a clear policy on state participation.

Policy analyst Dr. Steve Manteaw echoed calls for a larger Ghanaian stake in mining, referencing the public debate over the renewal of Gold Fields’ Tarkwa lease. He stressed that while greater local ownership can capture more value from natural resources, it must be pursued with the necessary financial and technical capacity to avoid jeopardising production. Manteaw highlighted international examples – the United Kingdom, United States, Malaysia, Saudi Arabia and Botswana – where state‑linked companies play key roles in resource sectors, and urged a strategic, rather than purely sentiment‑driven, approach.

Both experts emphasized the need for a coherent policy framework that integrates MIIF into lease approvals and renewals, aiming to place Ghanaians at the commanding heights of the mining economy.