Policy analyst and Extractive Industries Transparency Initiative (EITI) expert, Steve Manteaw, has attributed the intense public interest surrounding the renewal of Gold Fields’ Tarkwa mining lease to a growing perception that Ghana is not receiving sufficient benefits from its mineral resources.
Speaking on Joy News’ PM Express on Wednesday, Mr Manteaw said concerns about the country’s share of mining revenues have gained traction over the years, fuelling demands for greater Ghanaian participation in the sector.
“Well, I think what is unique is the fact that there’s been, for some time now, a general feeling that Ghana is not getting enough from its natural resources,” he said.
According to him, claims that Ghana retains only a small fraction of the value generated by the mining industry have become widely accepted, even though he believes some of those figures are inaccurate.
“It’s fed into people’s minds, and people feel that as resource owners, we are being short changed, and they need to flip it over to Ghanaians, so that the greater value in the industry will be retained in country,” he stated.
Mr Manteaw noted that the government’s policy objective of increasing local participation in the mining sector has further heightened public debate on the issue.
“Government wants to indigenise our industry and, like Acheampong will put it, put Ghanaians in the commanding heights of the economy, and so that is the agenda of the current government,” he said.
He added that government officials have consistently promoted the idea of placing more Ghanaians in leadership and ownership positions within the extractive sector.
“Wherever they go, they talk about putting Ghanaians in charge of our mining sector, so clearly, yes, it’s the government’s new policy,” he noted.
While expressing support for greater local ownership, Mr Manteaw cautioned that such goals must be pursued through a carefully developed strategy rather than public sentiment or political rhetoric.
“In fact, the rhetoric speaks to it. It’s been my position too,” he said.
He argued that international experience demonstrates that countries derive the greatest benefits from natural resources when they actively participate in extraction and value creation.
“I believe, and the data actually supports that call, that all over the world, countries that have been able to optimise value, countries that have been able to unleash the development potential of their mineral wealth, are those that are not holding their arms but are actively participating in the extraction of the resource,” he stated.
Mr Manteaw cited examples including BP in the United Kingdom, ExxonMobil in the United States, Petronas in Malaysia, and Saudi Aramco in Saudi Arabia as companies that have enabled their countries to capture significant value from natural resources. He also pointed to Botswana’s involvement in the diamond industry as a model of successful state participation.
Despite supporting increased Ghanaian ownership, he warned that local control alone would not automatically translate into greater national benefits.
“I welcome the call for Ghana to acquire more stake in our mineral sector, but I think we need to talk about strategy and not base our calls on sentiments,” he stressed.
“There is a way in which the industry works that if you don’t get it right, you put the mine in Ghanaian hands, and you actually lose out, because they may not be able to make the kind of investments that you need to make to keep production at a certain level.”
His remarks come amid growing discussions about the future of major mining leases and renewed calls for increased Ghanaian control over the country’s mineral resources.
