Andrews Tandoh, Chief Executive Officer of the Minerals Commission, said Ghana is not following the paths of Mali or Burkina Faso—two countries that have moved to take more control of their extractive industries—but is instead pushing for “indigenisation” and updated agreements with foreign firms.
“There hasn’t been a policy for nationalization. We are not Burkina Faso. We are not Mali,” Mr. Tandoh said in an interview with Joy News. “But we are pushing for indigenisation.”
The comments come amid heightened scrutiny following the government’s decision not to renew the mining lease of Gold Fields Ghana for its Damang Mine. The move sparked speculation of a shift toward state control, but Mr. Tandoh described the decision as part of a broader effort to recalibrate outdated contracts and ensure Ghana’s mining sector delivers tangible benefits for its citizens.
“We support foreign investment,” he said. “But some of these agreements cannot be in perpetuity. If you’ve been given a lease for 30 years and you’ve worked through the 30 years, it cannot be business as usual. Those neo-colonial types of agreements cannot continue.”
According to Mr. Tandoh, the government’s approach is part of a deliberate and calculated strategy aimed at maximizing returns from the country’s resource wealth—while preserving a stable investment climate.
“This is about ensuring our infrastructure, our communities, and our people benefit from what is under their feet,” he said.
The Commission is currently reviewing a number of long-standing contracts and expects to introduce reforms to make the sector more sustainable and transparent. Mr. Tandoh said the message to investors is clear: Ghana remains open for business—but on terms that reflect today’s economic realities.
“We’re not saying don’t come. We’re saying, let’s do fair business. Let’s look again at what we signed 30 years ago. The times have changed,” he said.
“Genuine investors are not afraid of fairness,” Mr. Tandoh added. “They are afraid of instability. We are offering structure, fairness, and a clear plan for growth.”
He framed the policy shift as both strategic and necessary. “This is not abrupt. This is deliberate. It is strategic. And above all, it is for Ghanaians.”
Source:TheDotNews