By: Franklin ASARE-DONKOH
The President, John Dramani Mahama, has announced that Ghana is set to develop and implement an indigenous framework for the management of the country’s natural resources.
Speaking at the opening of a four-day Executive Leadership Programme for Ministerial Appointees, President Mahama assured Ghanaians that the country can manage its resources without relying solely on foreign entities.
“In the next few months, we will develop a policy on indigenous participation in our natural resource exploitation.
We are not going to expropriate anybody’s lease or anything, but if any renewal comes to us, we would want to negotiate and ensure that there is more Ghanaian participation — so that we can also raise the resources to bring prosperity to our people,” President Mahama said on Thursday, April 24, 2025.
This move follows the recent standoff involving Gold Fields’ exit from the Damang mine, where the company had operated for nearly 30 years under the same license.
The government refused to renew the Gold Fields mining lease after its expiration, citing the company’s failure to meet key obligations under the lease agreement, according to the Minerals Commission.
However, a compromise has since been reached, allowing for joint management of the Damang mine by the government and the company for one year, pending parliamentary ratification.
