Ghana to review mining laws

Ghana, the West African republic that is often cited as a model of economic development on the continent, is set to review its mining laws.

The country’s mining minister, Esther Obeng Dapaah, is keen to increase the benefit the state receives from mineral resources, describing current tax revenues from the sector as minimal.

Ghana is Africa’s second-largest producer and exporter of gold, after South Africa. It is home to one of the world’s largest gold operations, in Obuasi near Accra.

AngloGold Ashanti, Newmont Mining Corp and Red Back Mining are the country’s leading miners.

Ms Dapaah is also keen to see the Ghanaian government take an increased role in the mining sector and is proposing a move away from its reliance on gold.

The country also has significant reserves of coltan, which is used in the production of electronic items such as DVDs, mobile phones and computers.

The minister has also indicated that the government would like a fuller understanding of how foreign mining companies calculate the profits on which they pay Ghanaian taxes.

Zambia and the Democratic Republic of Congo have both reviewed their mining legislation and concessions in recent months.

Earlier this week, Ecuador suspended mining exploration activities and revoked a large number of concessions while it prepares new mining laws.