Ghana has announced a significant overhaul of its mining sector, including plans to eliminate the mineral exploration tax, aiming to attract increased foreign investment and stimulate sector growth. The Ministry of Finance highlighted that the move is intended to make Ghana more competitive in the global mining market, as reported by Reuters.
The government stated that the tax relief would reduce the upfront costs for mining companies, particularly smaller and junior explorers, encouraging them to expand exploration activities across the country, according to Bloomberg.
Mining Minister Ebenezer Kojo Kum stated, “By removing this tax, we are sending a clear signal to investors that Ghana is open for business and committed to sustainable growth in the mining sector,” as reported by Ghana Business News.
The policy shift comes amid increasing global competition for critical minerals and aims to position Ghana as a more attractive destination for investment while boosting domestic revenue through increased production and downstream activities.
