The Ghana Chamber of Mines has urged the government to adopt the Petroleum Revenue Management Act (PRMA) model for the mining sector to ensure transparency and accountability in the use of mineral revenues.
The Chief Executive Officer (CEO) of the Chamber, Dr. Ing. Ken Ashigbey, made the call, citing the need for greater public scrutiny and controlled utilization of mining revenues.
“If you look at the contributions that gold has been making all of these years, they all go into the Consolidated Fund, and so you are not able to tell really where that is going,” Dr. Ashigbey said.
“Same way, we should do that with our mineral resources. So that, as a country, we can say that this is what we want to do with our mineral revenues, and then you can look back at it and say that this is what it has done, and you’re able to have a hold on it.”
He emphasised the importance of having a robust revenue model to establish clear, accountable utilization mechanisms and assess the need for diversification. “Today, you might have angels in power, who may decide that the resources must be put to good use, but tomorrow the devil will come, and you don’t know how it’s going to be done.”
Dr. Ashigbey also highlighted the need for the Ghana Gold Board to fulfill its commitment to tracing the actual sources of gold output from small-scale mining, which recorded a 70.1% year-on-year growth in 2024. He warned that failure to do so could tarnish Ghana’s reputation and hinder its ability to sell or declare its gold on credible global markets.
The Chamber of Mines CEO expressed appreciation for the Western Regional Minister’s commitment to collaborating with the Chamber to promote responsible mining and tackle illegal mining in the region.
