Ghana will no longer grant a mining lease for 30 years to any mining company, the Chief Executive Officer (CEO) of the Minerals Commission, Martin Ayisi, has stated.
To that effect, a process is underway to amend the existing mining law to peg the upper limit for any mining lease in the country at 15 years.
Mr Ayisi said the move aligned with the government’s policy meant to increase local ownership and control of the mining sector.
He made this known in a presentation at a roundtable organised by the Institute of Economic Affairs (IEA) in Accra yesterday.
“This does not mean all mining companies will get 15 years. The 30-year mining lease regime in the country is not helping us at all, and we cannot continue to keep it in our laws,” he said.
Justifying the move, Mr Ayisi explained that the granting of 30-year leases was no longer common across the world and could not be retained in Ghana.
For instance, he said African countries such as Kenya, Burkina Faso, Cote d’Ivoire and Mali had leases between 15 and 25 years.
Roundtable
Present at the forum were a former Chief Justice and member of the Council of State, Sophia Akuffo; a former Chief Executive Officer (CEO) of the Minerals Commission, Benjamin Aryee; Advisor to the Minister of Lands and Natural Resources, Professor Jerry S. Y. Kuma; a Senior Fellow of the IEA, Dr Eric Oduro Osae; and other stalwarts in the mining sector.
Timelines
The Minerals Commission CEO said the new approach to issuing mining leases was part of measures being taken to build a robust mining sector capable of delivering prosperity to the country in a sustainable manner.
