IEA proposes Ghana Mining Company to hold state-owned mines

The Institute of Economic Affairs (IEA) is proposing that the government establish a Ghana Mining Company to hold ownership of all mines on behalf of the State.

The proposal follows Gold Fields’ announcement that it will transition the Damang Mine to Ghanaian ownership in April this year.

The IEA believes the formation of such a company would enable the deployment of a consortium of indigenous mining service providers to operate the mine, ensuring that local expertise is fully utilised while maintaining strategic national oversight.

In a statement issued on Friday, February 20, the IEA said, “By adopting this approach, Ghana can build a robust, locally driven mining ecosystem that enhances value retention, supports job creation, and secures long-term national benefits from its mineral resources.”

The Institute welcomed the reversion of the Damang Mine to the State, describing it as “a significant milestone that reinforces Ghana’s sovereignty over its natural resources and opens the door for stronger local participation in the mining sector.”

“On the back of this development, we propose that Government establishes a Ghana Mining Company to hold ownership of all mines on behalf of the State. The company will then contract a consortium of indigenous mining service providers to operate the mine, ensuring that local expertise is fully utilised while maintaining strategic national oversight,” the statement added.