Ghana
Legislation
- Minerals and Mining Act 2006 (as amended)
- Environmental Assessment Regulations 1999
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
| Regulatory Risk Rating Factors | Risk Level |
|---|---|
| First Come / First Serve | Subscribe |
| Application Critiera | Subscribe |
| Duration | Subscribe |
| Right to Renew | Subscribe |
| Competing Licences | Subscribe |
| Mineral Coverage | Subscribe |
| Right to Mine | Subscribe |
| Criteria for Mining Rights | Subscribe |
| Tenure | Subscribe |
| Surface Rights | Subscribe |
| Government Take | Subscribe |
| Transfer Rights | Subscribe |
| Change of Control | Subscribe |
| EIA Process | Subscribe |
| Power to Revoke | Subscribe |
| Age of Legislation | Subscribe |
| Other Factors | Subscribe |
Given Ghana’s success as a mining jurisdiction, other countries may look to it as an example to follow, with the hope of replicating its achievements. However, the legislation offers little useful guidance for others to follow – lacking the basic rights of open and equal access and security of tenure and imposing onerous obligations on the industry. Ghana would need to start afresh if it hopes to retain its historic success and countries would be wise to look to other examples, perhaps ones where legislation doesn’t need to offer the use of a supplementary agreement which states how ministerial discretion shall be exercised.
Contents
Legislation
- Minerals and Mining Act 2006 (as amended)
- Environmental Assessment Regulations 1999
Regulatory Risk Rating
Regulatory Risk
Regulatory Corruption Risk
Regulatory Corruption Risk
Corruption Exposure Risk
Corruption Exposure Risk
Overview
Ghana has one of the top ten largest economies in Africa, with mining being a key contributor. In 2019, the mining sector contributed to around 34% of GDP. Gold mining dominates the industry, with Ghana currently recognised as the largest gold producer in Africa. The country is also a significant producer of manganese and bauxite and a modest diamond producer. There is also potential for base metal mining and industrial minerals. Ghana’s strong democratic political system, good governance and sound economic environment have provided an attractive setting for foreign investment. Several international mining companies have operations in Ghana; Newmont, AngloGold Ashanti, Kinross and Gold Fields all have significant gold projects in the country. Ghana also has a large artisanal and small-scale mining sector – focused almost exclusively on gold. The country continues to deal with issues around illegal mining and the environmental, health and safety concerns which arise from it.
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