Parliament Ratifies Mining Lease Agreements for 5 Companies Across Ghana

Parliament of Ghana has ratified five mining lease agreements for the extraction of gold and other minerals across the country, as well as timber utilization contracts for 131 companies. This decision was made after the Mines and Natural Resource Committee of Parliament presented a report to the plenary, which was adopted by the House. The ratified agreements involve several prominent mining companies, including Newmont Golden Ridge Limited, Abosso Goldfields Limited, Gateway Exploration Limited, and GBF Associate Ghana Limited.

Key Takeaways:

• The mining lease agreements were ratified in accordance with Article 268 of the 1992 Constitution and Section 54 of the Mining and Minerals Resources Act, 2006 (Act 703).
• The agreements involve the extraction of gold and other minerals by five companies across Ghana, including Newmont Golden Ridge Limited, Abosso Goldfields Limited, Gateway Exploration Limited, and GBF Associate Ghana Limited.
• The ratification of the mining lease agreements is expected to accrue millions of Ghana cedis to the state, create jobs for local communities, and transfer expertise and technology to Ghanaians.
• 131 timber utilization contracts were also ratified as part of the agreements.
• The mining lease agreements are confirmed to have been ratified by Parliament, marking a significant development in the country's mining sector.

Statistics:

• 5 mining lease agreements were ratified by Parliament.
• 131 timber utilization contracts were ratified by Parliament.
• The ratification of the mining lease agreements is expected to accrue millions of Ghana cedis to the state.
• The extraction of gold and other minerals is expected to create jobs for local communities in various regions across Ghana.
• The transfer of expertise and technology to Ghanaians is expected to have a positive impact on the country's economic development.

Sources:

• Ghana News Agency (2025-07-25)URLException