Ken Ashigbey (M), Emmanuel Armah-Kofi Buah (1st R) with management
The large-scale mining sector contributed more than GH¢22.22 billion in revenue to the economy and provided over 13,819 direct jobs despite facing significant global and domestic challenges, the Chamber of Mines has disclosed.
Speaking at its 98th Annual General Meeting (AGM) Chief Executive Officer (CEO) of the Chamber, Kenneth Ashigbey, said that the industry recorded local procurement spending of US$4.20 billion, invested significantly in infrastructure, and spent US$88.60 million on community development initiatives.
He said the mining industry navigated geopolitical tensions, inflationary pressures and remained a key driver of merchandise exports, and foreign exchange generation.
He said, “Despite these headwinds, Ghana’s large-scale mining sector remained resilient. It contributed over GH¢22.22 billion in revenue and supported more than 13,819 direct jobs. It also sustained merchandise exports, foreign exchange generation through the Domestic Gold Purchase Programme, local procurement spend of $4.20 billion, infrastructure investment, and community development spending of $88.60 million.”
The Chief Executive Officer also mentioned ongoing reforms to the Minerals and Mining Act noting that the Chamber provided data-driven recommendations aimed at creating a balanced framework that supports national development objectives while maintaining Ghana’s attractiveness to investors
He said the Chamber has intensified engagements with government agencies, regulators, security institutions, traditional authorities, the World Gold Council, the World Bank, and the London Bullion Market Association (LBMA) to promote responsible mining practices and stronger enforcement within the small-scale mining sector.
Outgoing President of the Ghana Chamber of Mines, Michael Edem Akafia, emphasised that sustainable progress in the mining sector depends on strong collaboration among government, industry players, communities, and regulators.
Mr. Akafia said the Chamber’s decision to engage the government as a constructive partner rather than a critic had produced positive outcomes.
He noted that despite global economic challenges, including tariff-related trade tensions, geopolitical risks, and policy uncertainty, the world economy maintained a growth rate of 3.4 percent in 2025.
According to him, the gold mining sub-sector emerged as the strongest performers, growing by 19.6 percent, while the solid minerals sector expanded by 13.56 percent. Gold’s contribution to GDP rose from 7.97 percent in 2024 to 9.98 percent in 2025, making it the country’s largest sub-sector.
Mr. Akafia projected that the country’s economic growth would moderate to 4.8 percent in 2026 as the economy transitions from recovery-driven expansion to a more sustainable growth path.
He further urged stakeholders to work collectively to address rising operational costs, policy and regulatory uncertainties, illegal mining, security of tenure concerns, and the need to ensure that the benefits of mineral wealth are more visibly translated into development outcomes for host communities.
By Ebenezer K. Amponsah