Ghana bill would give state special share rights in mining firms, draft shows
XLB•A draft Ghana mining bill would let the mines minister require companies to issue the state a free special share with veto rights over key transactions. It would also shorten lease terms to 15 years or the mine’s projected life, whichever is shorter, and allow future restrictions on exports of unprocessed minerals.
1. State share rights
The proposed Minerals and Mining Bill, 2026 would preserve the state’s existing 10% free-carried interest in mining projects while allowing the mines minister to require a special share with consent rights over key transactions, including lease transfers, voluntary liquidations and disposal of significant overseas assets linked to Ghanaian operations. Companies that fail to issue the share within two months could face fines of up to the cedi equivalent of $150,000.
2. Shorter leases, processing
The bill would cut mining lease terms to 15 years or the projected life of the mine, whichever is shorter, from up to 30 years under current law. It would also allow the government to require local mineral processing and impose future restrictions on exports of unprocessed mineral concentrates.
3. Next steps
The bill would replace the Minerals and Mining Act, 2006. Existing mineral rights holders would have to apply under the new framework when seeking renewals, with priority consideration for equivalent licences. A mining executive said the proposed special share and shorter lease terms had not featured in earlier industry consultations and said companies planned to submit proposals during the legislative process; the bill could be taken up when parliament resumes in October.
