Ghana must take control of mining sector, but not through abrupt policy shifts - Kenneth Ashigbey
Kenneth Ashigbey said on Saturday, May 16, on JoyNews' Newsfile that Ghana should expand local participation in the mining sector, but cautioned against abrupt policy shifts. He said, "You cannot change the rules midway and expect investors to remain confident."
Ashigbey said he does not disagree with calls by the Institute of Economic Affairs (IEA) for Ghana to take greater control of the "commanding heights" of its mining industry. He pointed out that the IEA paper had "no data" and "didn't look at our history." He noted that Ghanaian participation has increased not only at operational levels but also in contracting and service provision. He cited the Ahafo mine operated by Newmont Corporation, which required investments running into billions of dollars.
Ashigbey warned that Ghana must strengthen local ownership and participation through gradual evolution, not policy disruption. He cautioned against proposals to aggressively take over mining leases, noting that Ghana's legal framework provides clear provisions on lease renewals and investor rights. He called for collaboration between policymakers, industry stakeholders, and think tanks to ensure reforms are grounded in data and long-term economic strategy.
Quick Summary
Kenneth Ashigbey, CEO of the Ghana Chamber of Mines, discussed Ghana's role in its mining sector. He urged for increased local participation, but cautioned against sudden policy changes - hinting at potential impacts on investor confidence.
Summary - read the full story for complete context.
Image: MyJoyOnline
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from MyJoyOnline
Related Stories
More from Business & Economy
Let's not throw away IEA proposal to nationalise mining assets - Prof Bokpin urges
A finance professor is urging Ghana to consider nationalizing mining assets - but why now?
1h ago•2 min read
Ghana still addicted IMF programmes that don't promote production - Dr Nyarko Otoo
A leading economist says Ghana is too dependent on IMF programs- but what impact could this have on the nation's economy?
4h ago•3 min read
Ghana's IMF exit marks end of painful economic chapter - Dr. Theo Acheampong
Ghana's IMF exit is hailed as a major achievement, but what underlying issues still need to be addressed?
4h ago•4 min read
Government commits to fully recapitalising Bank of Ghana by 2032
The government vows to restore the Bank of Ghana to full financial health - but how will they achieve this?
5h ago•3 min read
