Ghana Chamber of Mines rejects calls by IEA to nationalise mines

The Chief Executive Officer of the Ghana Chamber of Mines, Ing. Ken Ashigbey, has strongly opposed proposals by the Institute of Economic Affairs (IEA) suggesting the nationalisation of mining assets in Ghana, arguing that the country should instead prioritise stronger regulation, transparency and investor confidence within the mining sector.

Speaking during a media engagement on Thursday, May 14, 2026, Ing. Ashigbey stated that while the Chamber welcomes public debate and policy discussions on the future of Ghana’s extractive industry, such conversations must be guided by facts, evidence and long-term national interest rather than emotions.

“We want to engage the IEA. It is good to discuss these issues dispassionately, but let the facts speak for themselves,” he stated.

His comments come amid growing public discussions over whether Ghana should increase state ownership and control in the mining industry following rising global gold prices and concerns about how much value the country derives from its natural resources.

According to Ing. Ashigbey, Ghana’s mining industry remains one of the most critical pillars of the national economy, contributing significantly to export earnings, employment, tax revenue and foreign direct investment.

He warned that any abrupt move toward nationalisation without careful planning and stakeholder engagement could create uncertainty within the industry, discourage international investment and negatively affect ongoing mining operations.

“The Constitution gives room for engagement and dialogue. What is important is that we protect the integrity and competitiveness of Ghana’s mining industry,” he added.

The Chamber of Mines believes policy consistency and regulatory stability are essential for maintaining investor confidence in Ghana’s extractive sector, particularly at a time when global competition for mining investment continues to intensify.

Industry analysts have often argued that the mining sector requires substantial long-term capital investments, advanced technology and international partnerships, making policy certainty a key factor for attracting and retaining investors.

Ing. Ashigbey stressed that rather than pursuing nationalisation, Ghana should focus on strengthening existing regulatory frameworks, improving compliance enforcement and ensuring greater transparency in the management of mineral resources.

He maintained that the country can maximise benefits from its natural resources through effective governance, stronger tax administration and improved monitoring of mining activities.

The debate over state participation in the mining sector has intensified in recent months as some policy advocates and economic analysts call for greater local ownership and increased state control over strategic mineral assets.

Supporters of increased state involvement argue that Ghana must secure a larger share of mining revenues to support national development, infrastructure and social programmes.

However, opponents caution that aggressive nationalisation policies could undermine private sector confidence and reduce the country’s attractiveness to international mining firms.

Ghana remains one of Africa’s leading gold producers, with mining continuing to play a major role in the country’s economic growth and export performance.

The Chamber of Mines has consistently advocated policies that balance national economic interests with the need to maintain a competitive and sustainable investment climate within the extractive industry.

Observers say the ongoing debate is likely to shape future policy discussions on resource governance, local participation and economic transformation within Ghana’s mining sector.