The government has secured a $1 billion investment package through a Memorandum of Understanding (MoU) signed on August 22, 2025, with three international Direct Mining Companies (DMCs).
The initiative, according to the Chief Executive Officer of the Ghana Gold Board, Mr Sammy Gyamfi, would support the establishment of over 300 responsible small-scale mining operations and is expected to create thousands of jobs while boosting sustainable gold production.
The Gold Board, in partnership with the Ghana Geological Survey Authority, is also undertaking detailed geological mapping to build a robust national data repository and reduce the environmental impact of exploration.
Speaking at the opening of the maiden edition of the Minerals and Mining conference in Accra yesterday, Mr Gyamfi revealed that domestic gold refining would commence in October 2025 through a partnership with Gold Coast Refinery and the Bank of Ghana.
He added that plans were underway for a state-owned gold refinery and International Organisation for Standardisation (ISO) – certified asset laboratory near Kotoka International Airport—key components of a national strategy to shift Ghana from raw gold exports to refined bullion and gold-based products.
Mr Gyamfi further urged private sector players, international partners, and local communities to join in the country’s renewed push to turn its mineral wealth into long-term prosperity, job creation, and environmental stewardship.
The Deputy Minister of Lands and Natural Resources, Mr Yusif Suleman, on his part, said it was unacceptable that a country so rich in minerals like Ghana remained plagued by poor infrastructure, illegal mining, and underdeveloped communities.
“We cannot continue to be a nation abundant in gold yet lacking in prosperity,” he stated, outlining bold reforms already underway under the leadership of President John Dramani Mahama.
Central to the overhaul, the Minister announced a comprehensive review of the Minerals and Mining Act, 2006 (Act 703), and the 2014 Minerals and Mining Policy to align Ghana’s legal and regulatory framework with global standards.
Mr Sulemana reaffirmed the government’s plans to roll out a Responsible Cooperative Mining and Skills Development Programme geared towards formalising small-scale mining, increasing transparency, and boosting local participation across the value chain.
“Environmental restoration is also a top priority, with the ministry introducing land reclamation initiatives to convert degraded mining sites into productive agricultural or communal assets,” he emphasised.
He called on large-scale mining firms to invest in downstream industries and urged collaboration among stakeholders—including civil society, financial institutions, and local communities—to build a modern, inclusive mining economy.
BY CLIFF EKUFUL
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