The Ghana Chamber of Mines has cautioned the government against proposals to abolish Development Agreements (DAs) and reduce the tenure of prospecting licences from 15 years to nine, warning that both measures could weaken the mining sector’s competitiveness and drive away large-scale investors.
At a press briefing on Monday, September 1, 2025, Chief Executive Officer of the Chamber, Ing. Dr. Kenneth Ashigbey, argued that Development Agreements, which target investments above $500 million, are vital tools for attracting high-value projects into the country.
“Abolishing DAs will not only elevate risks for high-value projects but also limit Ghana to low-value investments, making our mining sector less competitive globally,” Dr. Ashigbey cautioned.
He stressed that the agreements should rather be maintained and applied flexibly at the government’s discretion to drive long-term investments.
On the reduction of prospecting licences, Dr. Ashigbey warned the move would stifle exploration and shrink the pipeline of new mining projects, a development that could stall Ghana’s ambition to fully realise its mineral potential.
“Shortening the tenor for investors to make a commercial discovery will derail the government’s efforts to boost Ghanaian ownership in the sector and push investors toward smaller, low-risk brownfield targets,” he added.
The Chamber recommended that the existing 15-year tenure be retained, with renewals tied to verifiable evidence of exploration work.
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