Ghana's mining policy disputes raise investment risks and demand larger gold share

The Ghana Chamber of Mines warned that recent cancellations of mining leases and delays in lease renewals are undermining the investment climate for the country's mining sector. Notably, the termination of Adamus Resources' lease and stalled talks over Gold Fields' Tarkwa lease have raised concerns about the security of tenure for multinational operators.

At the same time, the government is negotiating to increase the share of gold that multinational miners must deliver to the Bank of Ghana from the current 20% to 30%, with the extra output to be supplied in doré form. Officials say the move is intended to boost gold reserves, stabilize the cedi and protect the economy after a severe crisis. Mining companies have pushed back, citing unresolved pricing, discount and timeline issues. The negotiations occur alongside broader reforms, including a proposed sliding‑scale royalty that could rise to 12% as gold prices climb.