The Ghana Chamber of Mines has renewed calls for stable and predictable mining policies, warning that sustained investment and long-term growth in the sector depend largely on policy consistency.

The appeal was made by the President of the Chamber, Michael Edem Akafia, at the 11th Ghana Mining Industry Awards (GMIA) held in Accra. He described Ghana’s mining sector as being at a critical point, faced with intense global competition, rising social expectations and the need to preserve investor confidence.

Mr Akafia noted that frequent changes in regulatory and fiscal frameworks pose serious risks to mining companies, whose investments are typically capital-intensive and extend over several decades.

“Mining investments are high-risk, capital-heavy and long-term in nature,” he said, urging government to maintain a transparent, balanced and predictable policy environment that safeguards national interests while promoting business growth.

He cautioned that the introduction of an onerous sliding-scale royalty regime could discourage new investments and slow industry expansion. To improve transparency and accountability, he proposed the establishment of a Minerals Revenue Management Act, modelled on Ghana’s petroleum revenue governance framework, to ensure the equitable use of mineral revenues.

In a welcome address, the Chief Executive Officer of the Chamber, Ing. Dr Kenneth Ashigbey, commended government for abolishing VAT on exploration activities in the 2026 Budget, describing the move as a bold incentive that could attract new investments and strengthen Ghana’s position as a competitive mining destination.

Dr Ashigbey also highlighted the strong collaboration between the Chamber and regulatory institutions, including the Minerals Commission, the Environmental Protection Agency and the Ministry of Lands and Natural Resources. He said these partnerships have helped ensure policy clarity, effective regulation and environmental protection.

Both Mr Akafia and Dr Ashigbey acknowledged the persistent threat of illegal mining and called for stronger enforcement and greater support for state institutions to address the problem, stressing that responsible mining and the industry’s credibility depend on strict adherence to the rule of law.

The awards ceremony, held under the theme “Celebrating Excellence in Mining: Creating Value Beyond Minerals,” recognised outstanding achievements in safety, innovation, community development and operational excellence. AngloGold Ashanti Iduapriem Mine was named Mining Company of the Year, while Dr Catherien Kuupol Kutor, General Manager of Gold Fields Tarkwa Mine, received the Mining Personality of the Year award. The late Kwame Addo-Kufuor was posthumously honoured with the Lifetime Achievement Award.

The event was sponsored by leading industry players, including Gold Fields, AngloGold Ashanti, Zijin Golden Ridge, Newmont, Newcore/Cape Coast Resources, Perseus Mining Ghana Limited, UMA, Sandvik Ghana, Interplast and Stanbic Bank, with additional support from SMT Ghana, Asanko Gold Ghana, DRA, Mining Tools Ghana, Carmeuse Lime Products and Liebherr.

The Chamber reaffirmed its commitment to working with government, labour, host communities and civil society to build a modern, ethical and globally competitive mining industry grounded in sustainability and policy stability.