Michael Edem Akafia, President of Ghana Chamber of Mines
The Ghana Chamber of Mines has welcomed ongoing engagements with the government on the proposed sliding-scale mineral royalty system, stressing the need for a balanced framework that supports national revenue ambitions while safeguarding the growth of the mining industry.
Speaking at the 11th Ghana Mining Industry Awards in Accra, President of the Chamber, Michael Edem Akafia, said the industry recognises the government’s intention to align royalties with international gold price movements but cautioned that the policy must be structured in a way that does not hinder mining sector competitiveness.
Akafia said the Chamber appreciates being consulted on the new fiscal measure, which ties mineral royalty rates to fluctuations in gold prices. According to him, the proposal could benefit all stakeholders if designed to protect investment, ensure predictability, and promote long-term sector expansion.
“We believe that working together, we can arrive at a position that ensures all stakeholders benefit from our mineral resources,” he said. “But we also appreciate that if this is not managed in a way that allows the industry to grow, it could impede our growth and development.”
He noted that the Chamber’s environmental, social, and governance (ESG) commitments align strongly with Ghana’s aspirations to maximise value along the mining value chain. Ensuring a fair royalty system, he said, is essential to unlocking further investment, innovation, and community development in mining enclaves.
Akafia reiterated the industry’s readiness to partner government to strengthen policies that promote local content, technology adoption, skills development, and sustainability, especially as global mining undergoes rapid technological and environmental transitions.
The Chamber president also emphasised that collaboration between government, industry, labour, communities, and civil society remains essential to transforming Ghana’s mineral wealth into broad-based national development.
The sliding-scale royalty proposal is among government’s new fiscal measures currently under discussion with stakeholders across the mining value chain.
