Ghana Draft Mining Bill Proposes State Veto Rights
Ghana proposes a new mining bill introducing special state shares with veto powers over key transactions and reducing lease terms. The legislation aims to boost local benefits from the mining sector.
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Ghana is proposing a new draft mining bill that would require operators to issue the state a special share with veto rights over key transactions, backed by fines of up to $150,000. The legislation would replace the Minerals and Mining Act, 2006, as the country pushes to capture greater revenue from its natural resources. Mining accounts for 14% of Ghana's GDP and more than half of export earnings, making the sector vital to the broader economy.
