Government Policies and Programs
Relevant institutions include:
- Ministry of Mines and Energy – overall responsibility for the mining industry
- Minerals Commission – recommends mineral policy; the first contact for prospective investors
- Geological Survey Department – geological studies including map production and maintenance of geological record
- Mines Department – health and safety inspections and maintenance of mining records
- Lands Commission – legal records of licences and legal examination of new applications
- Chamber of Mines – association of representatives of mining companies
- Environmental Protection Agency – overall responsibility for environmental issues related to mining
The Ministry of Mines and Energy oversees all aspects of Ghana’s mineral sector and is responsible for granting mining and exploration licenses. Within the Ministry, the Minerals Commission has responsibility for administering the Mining Act, recommending mineral policy, promoting mineral development, advising the government on mineral matters, and serving as a liaison between industry and the government. The Ghana Geological Survey Department conducts geologic studies. The Ghana National Petroleum Corporation (GNPC) is the government entity responsible for petroleum exploration and production. The Precious Minerals Marketing Corporation (PMMC) is the government entity responsible for promoting the development of small-scale gold and diamond mining in Ghana and for purchasing the output of such mining, either directly or through licensed buyers. The Mines Department has authority in mine safety matters. All mine accidents and other safety problems also must be reported to the Ghana Chamber of Mines, which is the private association of operating mining companies. The Chamber also provides information on Ghana’s mining laws to the public negotiates with the mine labor unions on behalf of its member companies.
The overall legislative framework for the mining sector in Ghana is provided by the Minerals and Mining Law of 1986 (PNDC Law 153), as amended in 1994 and 2005. Under the Law, mining companies must pay royalties; companies may also pay corporate taxes at standard rates. The 1986 mining law had been instrumental in attracting more than $5 billion in foreign investment to the Ghanaian mining industry between 1986 and 2002. The 1994 amendments reduced the 45% general mining corporate tax rate to 35%, which is the same as that imposed on other industries. The 2005 amendments included changes to royalty rates and the establishment of the period of duration of a mining lease. The royalty payable by the mining sector to the government was increased from 3 to 5% in 2010.
Other legislation that affects mining and mineral exploration in Ghana includes the Minerals Commission Law of 1986 (PNDC Law 154); the Small-Scale Gold Mining Law of 1989; the Investment Promotion Act, 1994 (Act 478); the Additional Profits Tax Law, 1985 (PNDC Law 122); the Minerals (Royalties) Regulations, 1987 (LI 1349); the Environmental Protection Agency Act, 1994 (Act 490); and the Environmental Assessment Regulations, 1999, and as amended, 2002. The Petroleum (Exploration and Production) Law, 1984 (PNDC Law 84), sets out the policy framework and describes the role of the Ministry of Mines and Energy, which regulates the industry. The Ghana National Petroleum Corporation (GNPC), which is empowered to undertake petroleum exploration and production on behalf of the government, is authorized to enter joint ventures and production-sharing agreements with commercial organizations; GNPC was established under the GNPC Law of 1983 (PNDC Law 64). The regulation of artisanal gold mining is set forth in the Small-Scale Gold Mining Law, 1989 (PNDC Law 218). The Precious Minerals Marketing Corporation Law, 1989 (PNDC Law 219), set up the Precious Minerals Marketing Corporation (PMMC) to promote the development of small-scale gold and diamond mining in Ghana and to purchase the output of such mining, either directly or through licensed buyers.
Read more about this topic: Mining Industry Of Ghana
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