Ghana’s Gold Will No Longer Enrich Others While Our People Remain in Poverty ~President John Dramani Mahama

President John Dramani Mahama has made a bold declaration that Ghana’s mineral wealth will no longer serve foreign interests at the expense of its citizens. Speaking at the Mining in Motion Summit 2025 in Accra, The president reaffirmed the government’s commitment to transforming the country’s mining sector into a source of sustainable development, not environmental destruction or economic inequality.

“Our gold will not enrich others while leaving our people in poverty. Africa’s mineral wealth will no longer be a curse, but a blessing,” 

He highlighted the progress made in the fight against illegal mining, popularly known as galamsey, describing it as a major milestone in protecting Ghana’s natural resources.

He announced that illegal miners have been successfully removed from eight out of nine forest reserves previously overrun, paving the way for environmental restoration and responsible mining. He also revealed the government’s plan to introduce a track-and-trace system through Goldbod to ensure that gold exports are sourced responsibly and sustainably. Between January and April this year, Ghana earned $2.7 billion from gold exports, and with new reforms, that figure is expected to increase significantly.

Touching on the role of artisanal and small-scale miners, Present John Mahama was clear: “Artisanal miners are not enemies of the state, when properly trained and supported, they can be allies in development.” He emphasized that the new approach is not to criminalize small-scale miners but to integrate them into formal systems through initiatives such as the Cooperative Mining and Skills Development Programme and the Ghana Landscape Restoration and Small-Scale Mining Project. These programs are set to provide access to legal land, training, equipment, and shared infrastructure to empower small-scale miners.

He also addressed the issue of unregulated use of excavators in illegal mining activities. He noted that Ghana currently has more excavators than any other country in Africa, and many are used for environmental destruction. A new permitting regime will require importers to have valid licenses, as part of efforts to monitor and control equipment used in mining operations.

In a major policy shift, the president expressed his administration’s commitment to move beyond the export of raw minerals to local transformation. He outlined plans to refine gold locally, develop the jewellery industry, process bauxite into alumina and aluminium, convert lithium into battery components, and use iron ore to support a domestic steel industry. According to him, these steps are critical to industrializing the economy, creating jobs, and adding value within Ghana rather than exporting raw materials.

Reflecting on the history of Ghana’s mining sector, the president acknowledged that state assets were once handed over to foreign entities due to the country’s lack of capital, technology, and expertise. But today, he said, the story has changed. Ghana now has the human capital and technical knowledge to lead its extractive industries and must no longer give away control of its resources.

He welcomed foreign investors to partner with Ghana but made it clear that exploitative practices of the past will not be tolerated. “The Guggisberg-style concession grabbing is over,” 

He hinted at upcoming policies aimed at increasing Ghanaian participation in the extractive sector through vehicles like the stock exchange and private sector instruments.