Accra, Ghana – Ghana’s President John Dramani Mahama has announced a series of new policy measures aimed at significantly reducing the country’s longstanding reliance on exporting unprocessed minerals. Speaking at the Global Mining Summit in Accra on Monday, President Mahama emphasized the urgent need to develop domestic refining capabilities, battery production, and other value-added industries within Ghana.
President Mahama argued that Ghana’s current approach to mineral extraction disproportionately benefits foreign economies, with raw materials being exported and later re-imported as more expensive finished goods. “We must move beyond extraction to transformation,” he stated. “Refining our gold, producing jewellery, converting lithium into battery components, and processing bauxite into alumina and aluminium is the path to a resilient and diversified economy.”
Ghana holds the position of Africa’s leading gold producer and possesses commercially viable deposits of lithium, iron ore, and bauxite. Despite this natural wealth, Mr. Mahama acknowledged that these resources have not translated into widespread economic improvements for most Ghanaians, attributing this to years of external dominance in the sector and limited local industrial development.
The new government policy seeks to integrate the mining sector more closely with manufacturing, energy, and logistics, supported by enhanced research institutions and skills training. President Mahama also revealed plans to increase Ghanaian ownership throughout the mining value chain, leveraging the stock exchange and other domestic investment platforms.
Regarding gold, the President highlighted early successes from the Ghana Gold Board, which he said has generated $2.7 billion in export earnings to date. He noted that a new “track-and-trace” system is set to be introduced to ensure all exported gold adheres to environmental and ethical standards. The Board will also collaborate with private companies to rehabilitate 10,000 hectares of land affected by mining.
For critical minerals like lithium, essential for clean energy technologies, Mr. Mahama indicated that Ghana would implement clear policies and legal measures to attract long-term investors, encourage technology transfer, and support local participation in these emerging industries. These efforts are aimed at positioning Ghana as a regional hub for battery production.
With the African Continental Free Trade Area (AfCFTA) headquarters in Accra, President Mahama also called for stronger cooperation among African mineral-rich nations to maximise continental benefits. “We welcome partnerships with Guinea on bauxite, the DRC on cobalt, South Africa on platinum, and any willing nation for mutual beneficiation,” he said.
The 2025 “Mining in Motion” summit brought together African heads of state, traditional rulers, industry leaders, and global partners to discuss how the continent’s mineral wealth can foster sustainable growth. The event was held under the patronage of the Asantehene, Otumfuo Osei Tutu II.
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