Let's not throw away IEA proposal to nationalise mining assets - Prof Bokpin urges
Professor Godfred Alufar Bokpin urged policymakers not to dismiss proposals by the Institute of Economic Affairs (IEA) calling for greater state control over mining assets, speaking on Saturday, May 16, on JoyNews' Newsfile. He said the ideas should instead be critically examined in the national interest. He stated that Ghana has not fully benefited from its natural resources and must reconsider its fiscal regime and mining agreements. He also said, "If you follow the narrative, we have blamed a lot of these things on the kind of contracts we have signed and lease arrangements, and they are binding. So to that extent, as these leases are nearing expiration, we should not throw away what the IEA is saying."
Prof. Bokpin suggested that Ghana should take advantage of expiring mining leases to reassess terms, renegotiate agreements, or adopt improved fiscal arrangements that maximise national benefit. He raised concerns about the uneven development in mining communities despite the wealth generated from extraction. He cautioned that any reforms must balance national interest with investor confidence, legal certainty, and the need to maintain a stable regulatory environment.
The Ghana Chamber of Mines has strongly opposed the IEA proposal to nationalise mining assets. They argue that Ghana should instead focus on strengthening regulation, transparency, and investor confidence in the sector.
Quick Summary
Prof. Godfred Alufar Bokpin has urged policymakers to carefully consider the IEA's proposal for greater state control over mining assets- sparking debate. He argues Ghana hasn't fully benefited from its resources, hinting at a need to reassess fiscal regimes.
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