The Minority in Parliament has predicted a potential job loss of around 1 million due to the government’s new Minerals and Mining Royalty Regulations, 2025. The law, effective March 9, 2026, introduces a flexible royalty rate system tied to global commodity prices.
Addressing journalists on Tuesday, March 10, the Chairman of the Subsidiary Legislation Committee, Patrick Boamah, said the new regulations could make Ghana’s mining sector less attractive to investors.
“If you introduce this, you may accrue some revenue, but the net effect is some job losses. Close to about a million jobs. If you lose close to a million jobs because the investments required did not come in, you are not going to get the employees’ tax, tax from companies,” he stressed.
The regulations could deter investors, making Ghana’s mining sector less appealing. Mr. Boamah urged the government to cut the Growth and Sustainability Levy on mining firms to 1% to maintain investor confidence. The law sets up a 1% Community Development Fund for lithium mining to support local infrastructure projects. Ghana faces pressure from major countries to reconsider the royalty hike, citing concerns about its impact on mining giants.
