Ghana Proposes 60% Local Ownership in Medium-Scale Mining

Ghana is proposing a minimum 60 per cent local ownership requirement for medium-scale mining ventures under a revised Minerals and Mining law currently before Parliament, a move that would limit foreign investors to a maximum 40 per cent stake and give Ghanaian investors majority ownership in partnerships within the subsector.

Chief Executive Officer of the Minerals Commission, Isaac Tandoh, said the proposed arrangement was intended to create opportunities for Ghanaian investors with the financial capacity to enter the mining industry through partnerships with foreign firms.

"We've made a law such that the Ghanaian would have a majority shareholder, which is a minimum of 60. And then the foreigner can have a maximum of 40 per cent," he said.

Mr Tandoh disclosed this at the China-Ghana Mining Cooperation Conference 2026 in Accra, organised by the Association of China-Ghana Mining LBG.

He said the proposed legislation was before Parliament's Select Committee on Lands and Natural Resources for consideration.

The proposal forms part of broader efforts to increase Ghanaian participation and ownership in the mining industry, while attracting foreign capital, technology and expertise.

A Shift in Ownership Architecture

The 60/40 proposal represents a significant shift from the current framework, which requires a minimum 10 per cent Ghanaian equity participation in large-scale mining and allows foreign ownership of up to 90 per cent. The revised law would create a distinct category for medium-scale operations with a far higher local ownership threshold.

The move aligns with a broader government push to deepen local content across the extractive sector. The Minerals and Mining (Local Content and Local Participation) Regulations, 2020 (L.I. 2431) already set targets for local employment, procurement and ownership, but enforcement has been uneven. The new provision would embed the ownership requirement directly in the principal legislation.

Chinese Ambassador Calls for Value Addition

Chinese Ambassador to Ghana, Cong Song, called for increased Chinese investment in the country's mining sector, particularly in mineral processing and value addition.

He said Chinese mining companies were introducing equipment and technology to improve operational efficiency, lower production costs and strengthen local industry capacity. The Ambassador also highlighted their contribution to technology transfer, community development and the training of Ghanaian professionals.

His remarks echoed his earlier caution at the same conference against using Africa's natural resources as instruments of geopolitical rivalry, emphasising mutual respect and recognition of African countries' development priorities.

Terkper Proposes Domestic Capital Market

Presidential Advisor on the Economy, Seth Terkper, who represented the Chief of Staff, urged mining companies to explore Ghana's domestic capital market as an alternative source of long-term financing.

He said Ghanaian and Chinese firms should consider raising capital through the Ghana Stock Exchange rather than relying heavily on loans.

"I look forward to the day when both Ghanaian and Chinese firms will source their capital from the Ghana Stock Exchange," he said.

Mr Terkper also proposed stronger collaboration between the Ghana Infrastructure Investment Fund and the China Development Bank to support infrastructure financing.

Chamber of Mines Welcomes Chinese Investment

President of the Ghana Chamber of Mines, Ing. Frederick Attakumah, highlighted the growing presence of Chinese companies in Ghana's gold and strategic minerals industries.

He said the expansion of Chinese-owned gold-producing mines in recent years reflected growing investor confidence, while their participation in manganese and lithium mining pointed to sustained interest in Ghana's mineral resources.

The conference also saw the launch of the China-Ghana Mining Talent Development Centre, an initiative expected to strengthen skills development and build a skilled workforce for the mining industry through specialised training.

The centre, unveiled by Tandoh and other dignitaries, is designed to serve as a training and capacity-building hub for Ghanaian workers and mining professionals, offering opportunities to acquire specialised technical expertise and industry-related skills.