"Ghana's mineral wealth must become backbone of sustainable, globally competitive economy" - Lands Minister

Lands and Natural Resources Minister, Emmanuel Armah-Kofi Buah, has called for a bold transformation of the country's mining industry — one that shifts from raw mineral export to a value-driven and sustainable model that empowers citizens, protects the environment, and fuels inclusive economic growth.

In a speech delivered on his behalf by Deputy Minister, Alhaji Yusif Sulemana at the opening of the 2025 Mining and Minerals Convention in Accra, Hon. Buah said the time had come for Ghana to "rewrite the narrative" of being a resource-rich nation with limited benefits for its citizens, especially those in mining communities.

“We are not here merely to discuss rocks and minerals, but to build the future — a future of shared prosperity, sustainable development, and mutual growth,” he said.

The Minister's address began with a solemn tribute to eight Ghanaians who died in a helicopter crash last month, calling on participants to observe a minute of silence in their honour.

Their memory, he said, should serve as a reminder of the shared mission to build a resilient and inclusive mining sector.

Hon. Buah traced Ghana’s long history with gold, from the era of the ancient Wangara traders to the colonial Gold Coast, reaffirming the sector's vital contribution to the economy in terms of revenue, foreign exchange, and job creation.

He noted that Ghana remains Africa’s leading gold producer and ranks sixth globally.

Yet, despite the impressive numbers and presence of global mining giants like Newmont, AngloGold Ashanti, Goldfields, and Zijin, the Minister admitted the country faces a “paradox of plenty” — rich in resources but still battling infrastructural deficits, illegal mining, environmental degradation, and limited local value retention.

“This is our reality, and the time to change that narrative is now. The future begins today, and it starts with us,” the Minister said.

The Minister outlined a number of bold policy reforms and strategic interventions under the RESET Agenda championed by President John Dramani Mahama, describing it as a “blueprint for transformation.”

Key among the initiatives include:

• A comprehensive review of the Minerals and Mining Act, 2006 (Act 703) and the 2014 Mining Policy to align with global best practices.

• Formalisation of small-scale mining through the Responsible Cooperative Mining and Skills Development Programme (rCOMSDEP) — a model built on community ownership, skills training, and access to modern equipment.

• Enhancing local content to ensure more Ghanaians benefit across the mining value chain.

• Promoting environmental sustainability through rigorous land reclamation and converting mined lands into productive agricultural or community assets.

• Digital transformation of the sector, with technology-driven tracking systems, minerals traceability, and fintech-based governance tools to enhance transparency and investor confidence.

Hon. Buah stressed the importance of partnerships across government, the private sector, civil society, and local communities in building a resilient mining economy.

“To the large-scale mining companies: partner with us in this new vision. To our small-scale miners: let’s make your operations legal, safe, and sustainable. To our financiers and tech innovators: your capital and creativity are the fuel for this transformation.”

He urged the private sector to move beyond their legal obligations and invest in downstream processing and mentorship of local businesses.

The Minister also emphasized the need for financial institutions to back value addition and refining projects to drive industrialisation.

Hon. Buah expressed optimism about Ghana’s mineral future but noted that success would require courage, commitment, and collaboration.

“Ghana's mineral wealth must become the backbone of a sustainable, inclusive, and globally competitive economy. Together, we can ensure that Ghana's gold is not just a resource beneath our soil, but a legacy of prosperity for our people.”

The Mining and Minerals Convention 2025, which has drawn industry leaders, policymakers, investors, and civil society actors, is expected to produce concrete strategies and partnerships to help reposition Ghana as a mining powerhouse — not just in output, but in value retention and shared prosperity.

On his part, Chief Executive Officer (CEO), Ghana Gold Board, Sammy Gyamfi unveiled an ambitious and far-reaching roadmap to reshape Ghana’s mining sector — pivoting from raw gold export to local refining, job creation, and sustainable economic transformation.

Mr. Gyamfi said Ghana is on the brink of a new mining revolution, one led by African ingenuity, bold reforms, and strategic partnerships.

"This is no plea for aid — it is a declaration: Africa is ready to transform,” he declared. “Let African minerals build African futures.”

Mr. Gyamfi revealed that Ghana has recorded unprecedented gold export figures in 2025, especially from the artisanal and small-scale mining (ASM) sector.

As of August 2025, GoldBod-facilitated exports from the ASM sector stood at 66.7 tonnes, valued at approximately $6 billion, surpassing the entire 2024 total of 63 tonnes and $4.6 billion.

Notably, small-scale gold exports also outpaced large-scale operations — a sector that recorded 65.1 tonnes valued at $5.6 billion over the same period.

"These much-needed forex inflows have significantly strengthened Ghana’s reserves, improved our balance of payments and provided critical support to the Ghana Cedi,” the CEO noted.

Mr. Gyamfi expressed concern over Ghana’s continued export of raw gold (doré), calling it a “national shame.” He said the GoldBod, under the RESET Agenda of President John Dramani Mahama, is spearheading initiatives to refine gold locally.

Among the measures:

Partnerships with local refineries, including the Gold Coast Refinery, to refine gold purchased and exported by GoldBod.

Plans to build a state-owned, international-standard gold refinery at the Kotoka International Airport Cargo Village.

Establishment of an ISO-certified Fire Assay Laboratory to raise gold purity testing to global standards.

Development of a "Gold Village" — a proposed continental hub for jewelry production and value-added gold products.

“We must transition from exporting doré to exporting bullion. Ghana must not only lead in production but also in value retention,” Mr. Gyamfi said.

In line with government efforts to clamp down on illegal mining, GoldBod announced a donation of five Toyota Hilux pickups and GHS5 million to support the National Anti-Illegal Mining Operations Secretariat (NAIMOS).

Mr. Gyamfi also confirmed that GoldBod will support the reclamation of 1,000 hectares of degraded forest lands starting November, as part of its ecological restoration policy.

Story by: Joshua Kwabena Smith