The Ghana Chamber of Mines has clarified that the proposed Minerals and Mining Bill, 2026, does not introduce a new state power to require mining companies to issue special shares to the Republic, saying the provision has existed in Ghanaian law since 2006.
In a press release dated October 7, 2026, the Chamber said Section 60 of the Minerals and Mining Act, 2006 (Act 703), already authorises the Minister responsible for mines to require a mining company to issue a special share to the State for no consideration.
The clarification follows a Reuters report published on September 30, 2026, titled “Ghana bill would give state special share rights in mining firms, draft shows.”
The Chamber said the report did not sufficiently highlight the legislative history of the special-share provision and urged Reuters to update its publication to reflect the existing legal framework.
Under Act 703, the special share is a non-voting preference share that generally carries no rights to dividends, profits or company assets upon liquidation, unless otherwise agreed by the Minister and the company.
However, it grants the State consent rights over specified major corporate transactions.
The Chamber said Clause 57 of the published Bill largely retains the existing framework but significantly increases the sanctions for non-compliance.
It stressed that explaining the provision’s history should not be interpreted as endorsing the special-share power or any particular exercise of it.
“The Chamber therefore asks Reuters to clarify that the underlying special-share power is not being newly introduced in 2026, although the Bill would re-enact it with revised sanctions,” the statement said.
Chamber highlights differences over mining lease duration
The Chamber also raised concerns about what it described as an unresolved difference between the mining lease duration stipulated in the published Bill and the Government’s subsequently stated policy intention.
It said Reuters accurately reported Clause 39(2)(a) of the May 2026 version of the Bill published by Parliament, which provides for an initial mining lease term of 15 years or the forecast life of the mine, whichever is shorter.
However, the Chamber drew attention to a statement made by the Minister for Lands and Natural Resources during the Government Accountability Series on July 15, 2026.
The Minister reportedly stated that “Mining lease period is now fixed at 20 years maximum…”.
According to the Chamber, the statement indicates the Government’s subsequently expressed policy intention but does not, by itself, amend the text of the Bill before Parliament.
It said the distinction was important because the published legislative text and the Government’s later statement do not present the same position on the proposed lease duration.
“The material point for readers is the unresolved difference between the text published by Parliament and the Government’s later public statement,” the Chamber said.
It urged Reuters to reflect both positions and clarify that the 20-year maximum is the Government’s stated policy intention rather than the current wording of the published Bill.
Chamber calls for accuracy in reporting mining reforms
The Chamber said accurate reporting of the proposed legislation was important because international coverage informs investment decisions by mining companies, lenders, analysts and policymakers.
It acknowledged the role of Reuters and other media organisations in scrutinising legislation and informing public debate, adding that the proposed Bill contains substantive measures requiring careful examination.
The Chamber said it remained engaged with the Government, Parliament and regulators on the implications of the proposed reforms for responsible mining, investment, competitiveness and Ghana’s long-term national interest.
It also encouraged media organisations covering the mining sector to engage relevant institutions and clearly distinguish existing laws from proposed changes, as well as legislative provisions from subsequent ministerial statements.
“The Ghana Chamber of Mines remains committed to constructive engagement on the Minerals and Mining Bill, 2026,” it said.
The Chamber added that it supported reforms aimed at strengthening governance, deepening Ghanaian participation and increasing national value while maintaining the predictability and competitiveness needed to attract responsible, long-term mining investment.
