Concerns are mounting in Ghana’s mining sector as the Chamber of Mines pushes back against proposals to slash mining lease tenures from 30 years to 15 years.
Industry leaders fear the adjustment could weaken investor confidence, limit long-term community benefits, and make Ghana less attractive than regional competitors.
At a press briefing on Monday, September 1, 2025, the Chief Executive Officer of the Chamber, Ing. Dr. Kenneth Ashigbey, stressed that mining projects are long-term undertakings requiring substantial investment and years of preparatory work. He warned that a shorter lease window would restrict companies from recovering costs and reaping fair returns.
“Reducing the tenure of mining leases to 15 years will curtail the available time for recouping investments, lower a project’s net present value, and compromise the viability of deep-seated or marginal ore bodies,” Dr. Ashigbey noted.
He further explained that the shift could discourage near-mine exploration, encourage “high-grading” of deposits, and weaken long-term social investments in host communities.
The Chamber also pointed out that peer countries like Côte d’Ivoire, Burkina Faso, and Nigeria maintain more flexible lease arrangements tied to project economics, making them more attractive to international investors.
Dr. Ashigbey urged the government to retain the current 30-year tenure under Act 703, supported by flexible renewals, to protect investor confidence and ensure steady revenue streams for the state.
“Mining is inherently high-risk and long-term. Any legal framework that shortens the investment horizon will only elevate Ghana’s tax burden relative to peers and deter new investments,” he cautioned.
The Chamber’s stance comes amid a wider review of the Minerals and Mining Act, which also proposes reducing stability agreements from 15 years to 5 years, scrapping development agreements for large-scale projects, and shortening prospecting licence durations.
While it welcomed the introduction of a medium-scale mining tier, the Chamber stressed that lease tenure and stability agreements remain the foundation of sustainable mining investment.
