By Eugene Davis
President John Mahama has announced plans to formalize and increase Ghanaian participation in the exploitation of natural resources through stock exchange listings and other investment instruments.
Speaking at the opening of the Mining in Motion 2025 Summit in Accra, the President highlighted the need to move beyond raw mineral extraction and commit to downstream industrialization to build a resilient, diversified economy.
“We will soon codify our thoughts concerning increased Ghanaian participation using vehicles like the stock exchange and other instruments,” Mahama said, adding that the private sector must take an active role in the country’s natural resource value chain.
He outlined a strategic shift to include refining gold locally, developing a jewelry industry, processing bauxite into alumina and aluminum, converting lithium into battery components for export, and using iron ore to feed a domestic steel industry. Mahama stressed the importance of linking mining to other critical sectors such as manufacturing, logistics, energy, and research.
Artisanal miners as allies, not enemies
Addressing the controversial issue of illegal mining, the President said the government would change the permitting regime to monitor and regulate heavy equipment imports, particularly excavators.
“Ghana has more excavators than the rest of Africa combined. You won’t be allowed to import or ship one unless you have a permit,” he declared.
Mahama also emphasized a new approach to small-scale miners, calling them “potential allies” rather than enemies of the state.
“With proper training and support, artisanal miners can help reclaim forest reserves and restore our polluted water bodies,” he noted.
According to the President, eight out of nine ‘no-go zone’ forest reserves have already been cleared of illegal mining activity.
Sustainability & oversight initiatives
Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, disclosed that over 500 illegal mining arrests had been made in the past five months. He also highlighted the launch of the Blue Water Initiative to restore polluted water bodies and Tree for Life, which aims to plant 30 million trees.
“We’ve already trained and deployed 460 river guards, with a target of 2,000 this year,” Buah said, adding that a pilot project has successfully tracked 70 excavators, with plans to geofence every unit entering the country.
Africa’s role in the global gold economy
Wamkele Mene, Executive Secretary of the African Continental Free Trade Area (AfCFTA), revealed that Africa produced over 1,000 tonnes of gold in 2023—more than 20% of global output. However, up to 40% remains undeclared, with an estimated $30 billion worth of gold smuggled annually.
He advocated for digital tokenization of gold to reduce smuggling, improve transparency, and enhance cross-border trade. He praised the Ghana Gold Board’s introduction of blockchain-based tracking as a model for other African nations.
“Tokenization can revolutionize gold trade by ensuring efficiency, cutting costs, and expanding financial inclusion,” Mene said.
Call for ethical investment and local value addition
The Asantehene, Otumfuo Osei Tutu II, urged international gold markets from London to Dubai to invest directly in value-addition industries in producer countries like Ghana. He also called on financial institutions to show greater willingness to work with African private sector actors.
“This is the time for mutual respect and real partnerships,” he told delegates.
The Mining in Motion 2025 Summit, held in partnership with the Ashanti Green Initiative, was themed “Sustainable Mining & Local Growth – Leveraging Resources for Global Impact.” The event focused on promoting responsible artisanal and small-scale mining (ASM), policy reforms, and international collaboration. Ghana, as Africa’s largest gold producer, was showcased as a model for sustainable ASM practices and community-driven growth.
