During a meeting at Manhyia Palace with officials from the Ministry of Lands and Natural Resources and the Minerals Commission, the Asantehene, Otumfuo Osei Tutu II, called for prioritizing local investors in the allocation of mining concessions before engaging foreign partners.
Emphasizing economic benefits, he argued that empowering Ghanaians would strengthen the local currency, enable listings on the stock exchange, and create investment opportunities for youth. The meeting discussed a proposed review of the Minerals and Mining Act, 2006 (Act 703), aimed at improving governance and increasing traditional authorities’ roles in mining.
Despite laws like L.I. 2431 mandating local procurement and hiring, the Asantehene highlighted gaps in implementation, noting that local businesses struggle to secure concessions.
He clarified that the Minerals Commission operates within the legal framework, including the 1992 Constitution, which vests mineral ownership in the state, suggesting that significant changes require constitutional amendments.
This call aligns with efforts to ensure Ghana’s mining wealth, a key economic driver as Africa’s top gold producer, benefits citizens more equitably.
