Chamber of Mines calls for stable Mining Policies to protect investor confidence
The Ghana Chamber of Mines has cautioned that increasing calls for government to reject the renewal of Gold Fields’ Tarkwa Mine lease could undermine investor confidence and damage Ghana’s reputation as a stable destination for long-term mining investments.
The warning follows recent calls by the Institute of Economic Affairs (IEA) urging government not to renew the mining lease, arguing that the decision could create opportunities for greater Ghanaian ownership within the mining sector.
Speaking on Eyewitness News on Thursday, May 14, Chief Executive Officer of the Chamber, Kenneth Ashigbey, emphasised that policy certainty remains crucial for attracting both local and foreign investment, particularly in the mining industry where companies commit substantial capital before production begins.
According to Mr. Ashigbey, investors would be discouraged from investing in Ghana if they become uncertain about the security of their mining leases or fear sudden changes to agreements after making significant investments.
He warned that such uncertainty could affect the transformational investments needed to expand and sustain Ghana’s mining sector.
“Let’s encourage our people to also invest in exploration so that we can identify new mineral resources. Exploration activities are already ongoing, and several new projects are expected to commence,” he stated.
Mr. Ashigbey further stressed that maintaining stable and predictable mining policies is essential for Ghana’s economic growth, adding that investors must be assured that the country’s laws and contractual agreements will be respected throughout the duration of their investments.
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