Parliament has passed amendments to the Growth and Sustainability Levy law, reducing the charge on gold mining companies from 3 percent of gross production to 1 percent as government attempts to ease pressure on the industry following recent regulatory changes.
Officials say the move is intended to balance the impact of new mineral royalty rules introduced last year, which alter how mining firms pay royalties to the state.
The Minerals and Mining Royalty Regulations, 2025 replaced the previous fixed-rate system with a sliding scale that adjusts payments depending on global gold prices. Under the arrangement, mining companies will pay higher royalties when prices rise and less when they decline.
Authorities argue the framework will allow the country to earn more revenue during commodity booms while providing flexibility during downturns in the market.
However, the Minority Caucus has criticised the wider policy shift, warning it could weaken investor confidence and threaten employment in mining communities.
Chairman of Parliament’s Subsidiary Legislation Committee, Patrick Yaw Boamah, cautioned that the changes could place as many as one million jobs at risk across the mining value chain, including extraction, logistics and local supplier businesses.
During parliamentary debate, Deputy Finance Minister Thomas Nyarko Ampem defended the levy reduction, saying it was necessary to soften the financial impact of the new royalty system.
“We don’t make laws to suit individuals. We are bringing this change so that Ghana can take maximum advantage of its natural resources. We all know that we have been blessed with gold.
“Over the years, we haven’t taken enough advantage of this resource. This arrangement will make it fair to mining companies, and it will also make it fair to Ghanaians who are the owners of this natural resource,” he said.
Gold remains Ghana’s largest export earner, and government says the revised fiscal framework is designed to increase national benefits from rising gold prices while keeping the country attractive to mining investors.
