Ghana drops to 53rd globally in mining investment attractiveness

Ghana’s reputation as a top destination for mining investment has slipped over the past year, according to the 2025 Fraser Institute Annual Survey of Mining Companies.

The country now ranks 53rd out of 68 jurisdictions globally on the Investment Attractiveness Index, down from 46th in the 2024 report.

The index, which combines geological potential with the impact of government policies, gave Ghana an overall score of 55.21.

The decline is mirrored in the Policy Perception Index (PPI), which evaluates how government policies affect exploration decisions. Ghana fell to 50th place out of 68 jurisdictions on the PPI, scoring 53.65, a drop from 46th the previous year.

Despite this overall decline, the survey highlighted a key strength: Ghana’s labor force. The country ranked first in the world for the availability of skilled labor, with respondents praising the quality and accessibility of its mining workforce as a key factor encouraging investment.

Nevertheless, this human capital advantage is being tempered by policy and infrastructure challenges. Investors cited concerns over the quality of the country’s geological database, which remains one of the lowest-rated globally.

Other deterrents include the complexity of the taxation regime, limited access to reliable power and road networks, and the conditions imposed by community development and local procurement requirements.

Regionally, Ghana continues to provide a relatively stable environment for investors. About 60% of respondents indicated that the country’s security, including protection from physical attacks, either encourages or does not deter investment.

This compares favorably with some neighboring countries, such as Mali and Burkina Faso, which rank in the bottom ten globally due to security and policy concerns.

When assessing “pure” mineral potential under a best-practices policy framework, Ghana ranked 35th out of 41 jurisdictions with a score of 56.25. This suggests that while the country’s geology is attractive, policy and regulatory factors are the primary reasons for its lower global standing.