The Ghana Chamber of Mines has urged the government to adopt a balanced and sustainable fiscal framework that maximises national benefits from mining while safeguarding investments and long-term growth.

Speaking on behalf of the industry, Chief Executive Officer of the Chamber, Kenneth Ashigbey, emphasised that while members support the government’s aim of securing greater returns for Ghanaians, the current proposals risk constraining investment and could stall expansion in the sector.

“Our members are not opposed to the government seeking greater returns for Ghanaians, and we understand the rationale behind a sliding-scale approach. What we are advocating for is a sweet spot — one where the government secures sustainable, increasing revenues for national development while the industry is able to expand, reinvest, and fully take advantage of the current high gold prices. Unfortunately, the current proposal does not strike that balance,” Mr Ashigbey said.

The Chamber also welcomed ongoing consultations between the Minister for Lands and Natural Resources and industry stakeholders, describing meaningful dialogue as critical for developing a fiscal framework that enhances national benefit without undermining Ghana’s competitiveness as a mining destination.

Currently, Ghanaian large-scale mining companies pay a 5% royalty on gross revenue, a 3% Growth and Sustainability Levy (GSL), a 35% corporate income tax, and other charges such as 8% tax on dividends and 10% Free Carried Interest for the State.

The proposed sliding scale of 5% to 12% royalty, the Chamber warned, could further increase costs and discourage investment.

Mr Ashigbey stressed that while the Chamber supports a review of Stability and Development Agreements, which are critical for an industry characterised by long-term capital-intensive projects, their outright abolition could destabilise the sector.

The Ghana Chamber of Mines said that a transparent, competitive, and sustainable fiscal regime is essential not only for maximising national benefits but also for ensuring the growth, resilience, and employment potential of Ghana’s mining industry.