15-Year Cap, Community Agreements Proposed
Ghana’s Minerals Commission CEO, Martin Ayisi, announced on August 20, 2025, at an IEA roundtable in Accra that mining leases will be capped at 15 years, down from 30, to enhance local ownership. The amendment to the Minerals and Mining Act, 2006 (Act 703) aligns with global trends, as African nations like Kenya and Mali use 15–25-year terms.
The reform, set for parliamentary approval by December 2025, follows stakeholder engagements with chiefs, the Ghana Chamber of Mines, and CSOs. Prospecting licenses will be limited to nine years (three years initial, two three-year renewals), curbing indefinite renewals under Act 703.
New provisions mandate community development agreements within six months of lease issuance, replacing voluntary CSR, which allowed tax deductions. Stability clauses will drop from 15 to five years, reflecting typical project payback periods, ensuring fiscal flexibility.
Development agreements, deemed outdated for Ghana’s mature mining sector, will be abolished. The reforms aim to balance investor confidence with national interests, addressing environmental concerns and boosting local benefits from $11.5 billion in 2024 gold exports.
Ayisi emphasized sustainability, with the revised policy due by October 2025. The changes, backed by experts like Sophia Akuffo and Benjamin Aryee, seek to modernize Ghana’s mining framework, impacting 13 large-scale mines and countering galamsey’s environmental toll.