Cabinet Approves Review of Minerals and Mining Act, Sends Bill to Parliament
The Minister for Lands and Natural Resources, Mr Emmanuel Armah-Kofi Buah, has announced that Cabinet has approved a review of the Minerals and Mining Act, 2006 (Act 703), and forwarded the revised bill to Parliament for consideration.
Speaking at the Government Accountability Series at the Presidency on Wednesday, Mr Buah said the review formed part of the Government’s efforts to strengthen the regulation of the mining sector and ensure that the country’s mineral resources contribute more effectively to national development.
He said the Ministry presented its performance for the first half of the year, covering the mining, forestry and lands sub-sectors.
Mr Buah said the review of Act 703, which has been in force for 20 years, followed consultations with stakeholders before receiving Cabinet approval.
He said the revised bill introduces district mining committees as the entry point for licensing, creates a new medium-scale mining category and replaces the reconnaissance licence with a single prospecting licence limited to five years.
The Minister said mining leases under the proposed law would be capped at 20 years, while every lease would be required to include a community development agreement.
“The revised Bill provides an updated, coherent and forward-looking legal regime to ensure that mining contributes immensely to national development,” he said.
Mr Buah also announced that Cabinet had approved a revised Minerals and Mining Policy, originally developed in 2014, to strengthen local content and promote domestic value addition within the mining industry.
He said Cabinet had also approved the Minerals and Mining (Royalties) Regulations, 2025 (L.I. 2517), which introduces a sliding scale royalty system linked to commodity price movements.
According to the Minister, the new royalty mechanism would provide investors with greater certainty than a fixed royalty rate that is affected by fluctuations in commodity prices.
Irene Wirekoaa Osei, ISD
