Chamber of Mines challenges Reuters report on proposed mining law

The Ghana Chamber of Mines has disputed a Reuters report regarding the proposed Minerals and Mining Bill 2026, citing insufficient legal and policy context on specific provisions. In a rebuttal issued on October 7, 2026, the Chamber stated that the report failed to clearly indicate that a special-share power, already present in Ghanaian law, would be introduced under the new legislation.

According to the Chamber, Section 60 of the Minerals and Mining Act, 2006 (Act 703) grants the Minister the authority to compel a mining company to issue a special share to the Republic without any consideration. This existing power, which dates back to 2006, applies to a non-voting preference share that carries consent rights but does not entitle the holder to dividends, profits, or company assets upon liquidation.

The Chamber also pointed out a discrepancy between the published Bill and the government's subsequent clarification on the duration of mining leases. While Reuters reported that the initial term for a mining lease would be 15 years or the forecast life of the mine, whichever is shorter, the Chamber emphasized that the government clarified this statement, asserting that the maximum lease period is now fixed at 20 years.

The Chamber stressed the importance of distinguishing between existing law, proposed legislative changes, and subsequent government statements, particularly as international reporting on Ghana's mining sector is closely monitored by investors, lenders, mining companies, analysts, and policymakers.