ACCRA, Mar. 13 (AGCNewsNet) – Ghana’s decade-long mining policy reforms, focusing on local content development, infrastructure modernization, and investment incentives, have driven significant growth across the sector, industry stakeholders said ahead of the Mining in Motion conference in Accra.

The West African nation has witnessed a surge in projects across mature markets such as gold, bauxite, manganese, and diamonds, as well as in emerging sectors like lithium, graphite, rare earth elements, and iron ore, stakeholders said.

Bringing together policymakers, investors, and industry leaders, the conference aims to showcase Ghana’s mining policy impact, highlight investment opportunities, and update participants on key projects.

Ghana plans to introduce a law banning the export of raw bauxite in June 2024, Minister of Lands and Natural Resources Samuel Abu Jinapor said. The move is designed to maximize revenue from the country’s estimated 900 million tons of bauxite reserves.

“The focus is on value addition to create employment, enhance infrastructure, and increase earnings through high-value bauxite products,” Jinapor said.

The Green Minerals Policy, enacted in August 2023, is facilitating entry for critical mineral players and strengthening Ghana’s position in the global energy transition market. The policy has eased fiscal barriers, leading to an increase in exploration and production activities.

Atlantic Lithium Limited secured an environmental permit for its Ewoyaa Lithium Project in September 2024, with initial production expected in 2026.

Ghana’s Local Content and Participation Regulation, introduced in 2020, mandates the use of Ghanaian expertise, goods, and services in mining operations. This has spurred investment from global partners, officials said.

Electrochem Ghana Limited plans to add 3,000 jobs to scale up salt production to one million metric tons. China’s Zijin Mining Group is negotiating a $1 billion acquisition stake in Newmont’s Akyem Gold Mine, while Canadian miner Asante Gold Corporation has committed $525 million to expand its footprint in Ghana’s gold sector.

Regulations introduced in 2020 to track mining equipment have boosted operational efficiency, contributing to increased production. The Minerals Income Investment Fund reported $1.02 billion in revenue from gold monetization in 2024, while Goldstone Resources saw a 34% rise in output at its Homase Mine following infrastructure upgrades.

Ghana’s mining sector, backed by ongoing policy reforms, is expected to remain a major driver of economic growth, stakeholders said.

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