Ghana Amends Mining Code to Optimize Local Value Retention
On 27 April 2026, Ghana’s Minerals Commission held a press conference to reiterate the official policy of the Government of Ghana to promote greater local value retention in the mining industry. At the same briefing, the mining licenses of Adamus Resources were revoked with immediate effect, due to flagrant violations of the Minerals and Mining Act.
Following an investigation of Adamus Resources, the Minerals Commission uncovered multiple violations of Ghana’s mining laws, including the absence of required permits, unauthorized subcontracting, and environmental non-compliance. The authorities also found the involvement of foreign nationals operating illegal mining activities, known as #Galamsey.
By 31st December 2026, mandatory local outsourcing will come into effect. All surface mining jobs, including blasting and hauling, must be carried out by 100% Ghanaian-owned companies. For underground mining, the Ghanaian ownership must not be less than 50%.
Under Act 1140, the Government of Ghana established the Ghana Gold Board (GoldBod) to restructure and sanitize the gold sector. Ghana is one of the oldest and largest gold producers in Africa. As of the 1st of May 2026, GoldBod will hold exclusive rights to purchase, assay and export all gold from artisanal and small-scale miners. Thus, all previous gold export licenses will become invalid. In addition, a tiered royalties scheme on gold of 9% to 12%, compared to 3% to 5% previously, indexed to global gold prices, is also being considered.
The Ghana Chamber of Mines issued a Position Paper, warning that shorter leases and higher royalties might put the brakes on investments. On the other hand, the Coalition Against Small-Scale Mining applauded the measure to disallow mining in forest reserves, calling it a ‘pivotal turn for Ghana’s environmental policy.’
As of the 1st of February 2026, Ghana has mandated local refining of at least one metric tonne of gold per week. This is to promote the export of higher-value gold bullion rather than the lower-value raw doré.
Sentences and fines for breaches to the mining code will also increase to provide a credible and effective deterrence. The revocation of the licenses of Adamus Resources is an indication that the Government of Ghana is serious about the reforms and is committed to protecting its national interests.