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Minerals Commission, Chamber of Mines discuss proposals on mining law amendments

The Ghana Chamber of Mines has met with the leadership of the Minerals Commission to discuss proposals on the impending amendment of the Minerals and Mining Act, 2006 (Act 703). The Chamber’s general disposition was favourable to the proposals made and commended the regulator and the Sector Ministry for deepening collaboration and discussions around the impending changes in the law.

Among the proposed amendments being sought by the Minerals Commission is the introduction of progressive and affirmative action towards increasing opportunities for women in the industry; review of stability agreements; cessation in the grant of development agreements as well as modalities for funding community development projects.

Additionally, the regulator is seeking to change the duration of prospecting (exploration) licenses. At a day’s session in Accra, members of the Chamber engaged officials of the Minerals Commission and offered suggestions on various aspects of the proposals, affirming their commitment to continue to collaborate with the regulators to ensure that the amendments are progressive and provide greater opportunities for the country to take advantage of its current position as Africa’s leading gold proposal.

The Minerals Commission has been engaging various organisations on its quest to amend the existing laws as it seeks to strengthen regulation and ensure mutually beneficial outcomes for stakeholders in the industry.

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