8/23/2016 Mineral Policy and Fiscal Regime

a stable, competitive and fair fiscal regime. Achieve a socially acceptable balance between mining and the physical and human environment and ensure that internationally accepted standards of health, mining safety and environmental protection are …

THE MINING SECTOR IN GHANA

• The main regulatory body in the Ghana mining sector is the Minerals Commission, this is a ... • Favorable Political and Regulatory regime. Banking Needs • Short term financing • Trade finance • Asset finance ... primarily by an upturn in all the direct fiscal streams, corporate income tax, mineral royalties,

ESTIMATING THE REVENUE POTENTIAL OF THE QUARRY …

Estimating the Revenue Potential of the Quarry Subsector in Ghana 3 The fiscal regime of the mining sector applies to both industrial and non-industrial minerals. It uses the tax and royalty system where government receives direct revenues from the industry in the form of royalties, corporate income taxes and other rents paid by the companies.

Mining Policy

Mining Policy Ensuring Mining Contributes to Sustainable Development. Ghana's mining history, particularly gold, dates back to the fifteenth century. The industry was very vibrant during the pre-independence period when mining policy was …

POLICY BRIEF ON THE MINING SECTOR

the state to maximise benefits from the mining sector and minimise the negative effects of mining on the state. This is in recognition of the fact that the existing mining sector policies have not been able to address pertinent issues in the sector such as: …

January 2020

mining sector between 1983 and 1998 as a consequence of these reforms (ibis). The extent to which tax exemptions alone contribute to investment attraction should be analysed in

Ghana

Fiscal Regime – key aspects: • Government carried interest - the government is given 10% carried interest in the rights and obligations of mineral operations in Ghana. ... Performance of the Mining Industry in 2020 (Ghana Chamber of Mines): • Gold output by the large-scale mining sector decreased by 4.8% from 2.98 million oz in 2019 to 2. ...

Competitiveness of Ghana's Upstream Petroleum Fiscal Regime…

Tables 2, 3 and 4 show the fiscal instruments available for collecting petroleum revenues in Ghana's upstream oil and gas industry. Following Agalliu et al. (), we classify the revenue risk of the fiscal instruments in the following order: (1) low risk to government—bonus payments, royalties; (2) medium risk to government—corporate income taxes, profit sharing; …

Ghana

Until March 2010, Ghana adopted a sliding-scale royalty' regime that required holders of mining leases and licences to pay royalties in respect of minerals obtained from their mining operations at a rate that is not more than 6% or less than 3% of the total revenue of minerals obtained by' the holders. The sliding-scale regime was replaced in 2010 with a provision to the effect that

Ghana: Mineral Policy

Akabzaa T, Daramani A (2001) A study of impacts of mining sector investment in Ghana on mining communities. Report prepared for the technical committee on structural adjustment participatory review initiative on Ghana. Google Scholar Amoako-Tuffour J (2013) Ghana's mineral fiscal regime: a baseline study.

West Africa Gold Mining Market by Reserves and …

West African gold production is estimated to be 11.83 million ounces (moz) in 2024. The region has emerged as a key gold mining hub with major contributions from Ghana, Burkina Faso, the Republic of Guinea, and Mali. Looking ahead, gold production from these major markets is expected to decline at a CAGR of more than 1% over the forecast period (2025 …

(PDF) Prospects and Challenges of Ghana's Extractive Industry

the initiative in the mining sector. Ghana was the first EITI country to deal with the mining. sector, ... include: the review of the fiscal regime under which the mining industry operates and the.

Mining sector during economic challenges: Ghana and …

It is also worth noting the significant contribution that small-scale mining, reserved for Ghanaians, to mineral production and revenue for Ghana's mineral sector. Legal and Fiscal Regime ...

OVERVIEW OF FISCAL ARRANGEMENT IN GHANA'S …

Figure 1: Fiscal Contribution of the Mining and Quarrying Sector to GRA Total Revenues - 2007-2012 (US$ Billion) Source: Ghana Revenue Authority, and Bank of Ghana The size of the revenues reported above vary over the period largely due to increasing gold production and the fiscal regime that determined the revenue streams.

Ghana's Lithium Agreement Assessing the Fiscal Regime

ASSESSING THE FISCAL REGIME IN GHANA'S LITHIUM AGREEMENT 3. T. he fiscal regime for Ewoyaa T. he scal regime the Ghanaian government has negotiated with Barari is largely set out in the mining lease agreement. As Table 1 shows, this regime has a higher royalty rate of 10 percent and higher free state equity of 13 percent than the scal

MINING FISCAL REGIME

The holder of a mining lease is entitled to the capitalisation of expenditure on reconnaissance and prospecting approved by the Minister on the advice of the Commission where the holder starts development of a commercial find.

GHANA MINING VISION

the mining industry. 5. Artisanal and small-scale mining: Weak governance regime; Widespread illegal small-scale mining activities; Absence of deliberate policy, strategy and support to make it attractive for those operating illegally to formalise their activities; Absence of

OVERVIEW OF FISCAL ARRANGEMENT IN GHANA'S …

introduced new fiscal terms including an increase in corporate tax for mining companies from 25% to 35%, limited annual capital allowance to an equal instalment of 20% for five years, a …

Fiscal Regimes for Extractive Industries: Design and …

Nevertheless, fiscal regimes seem to play a role: for example, fiscal regime revisions from 1991 onwards seem to have had a major role in expanding exploration and production in Angola's deep water prospects. 2

Ghana's Transition Minerals: No Time to Lose

The current fiscal regime for mining provides several stability clauses, development agreements and other tax exemptions that erode the country's domestic revenue. Ghana's mining sector is prone to illicit outflows, and loses an estimated USD 2 billion annually through smuggling. The government can address these loopholes with targeted sets ...

Invest in Ghana Mining Sector

Ghana has one of the most favourable fiscal regimes for mining in the world. The tax laws and fiscal instruments for mining are industry-friendly and provide competitive incentives to the investor. competitive rates of royalty and …

(PDF) Policy impacts on Ghana's extractive sector: The …

Revenue management is the weakest aspect of Ghana's mining sector governance. Ghana's national budgeting score of 36 out of 100 is due to the lack of numerical fiscal rules that impose a binding limitation on overall state budgets. Ghana also lacks an open data portal with essential mining industry datasets.

WHY INVEST IN GHANA BROCHURE 2021

The mining sector contributes over 11% to Ghana's GDP. Currently, the country is the number one gold producer, number 3 manganese producer and number 3 bauxite producer in Africa. ... Favourable Fiscal Regime for Mining i. competitive rates of royalty and corporate income tax ii. transferability of capital 6. Highly skilled Mining Professionals

NRGI Reader

• The fiscal regime is the set of tools that determine how the revenues from oil and mining projects are shared between the government and companies. • There are a variety of fiscal tools that can be used to create a fiscal regime to govern oil and mining projects, including royalties, taxes, production sharing, and bonuses.

(PDF) The Energy Transition and Critical Minerals in Ghana

This includes a discussion of how emerging fiscal and legal regimes reflect recent and future developments in the mining sector in other jurisdictions in light of the energy transition. 4.

Ghana

The upstream petroleum sector operates on a concessionary-based fiscal regime, with a minimum 15% carried interest by the state, a 5% royalty rate and a 35% corporate income tax rate. ... In the mining sector, the …

GRA tightens fiscal regime for mining industry

The Ghana Revenue Authority (GRA) is confident of achieving its GHc45 billion tax target this year by stepping up efforts to boost revenue collection in the mining sector in what amounts to a ...

Fiscal Policy Reforms and Their Effects on the Economic Viability …

Mineral sector regulatory and fiscal policies in Ghana have undergone a lot of reforms over the past three decades in an effort to attract the much-needed Foreign Direct Investment (FDI) into the ...

OPPORTUNITIES IN GHANA'S MINING

comprehensive review of the mining fiscal and regulatory regime has been carried out. Leading to: •Predictability and stability of fiscal incentives over time; •Transparency and a level playing …

Fiscal Regime Changes and Impact on Mining Industry and …

The mining sector holds significant importance in the Ghanaian economy, attracting more than half of all foreign direct investment (FDI) and generating over one-third of export revenues, …

MINERALS AND MINING POLICY OF GHANA

In addition to these macro-economic problems, the mining sector had its specific challenges; there was lack of clearly defined legal and fiscal regimes, high front end charges (for example, …

Mining Laws and Regulations Report 2025 Ghana

The Ministry of Lands and Natural Resources and the Minerals Commission administer the mining industry in Ghana. ... taxes, fees and other fiscal imports. A stability agreement cannot exceed 15 years and is subject to ratification by Parliament. ... Ghana's exploration tax regime is a hurdle for potential investors. [xix] The Chamber argues ...

THE MINING SECTOR IN GHANA

• The main regulatory body in the Ghana mining sector is the Minerals Commission, this is a government agency established under Article 269 of the 1992 Constitution and the …

Prospects and Challenges of Ghana's Extractive Industry

the initiative in the mining sector. Ghana was the first EITI country to deal with the mining ... include: the review of the fiscal regime under which the mining industry operates and the

Baseline Information for the National Action Plan on

for the regulation, licensing, fiscal regime and designation of mining areas. Only Ghanaians of age18 years and above can be granted Small scale mining license. ASGM is regulated by the ... informal economy of Ghana. The sector's contribution to gold production rose from 2.2% in 1989 to 35.4% in 2014 accounting for almost 1,500,000 ounces

Mining companies raise issues over unfavourable tax regime

The Minister of Finance in the 2023 Budget announced the introduction of a Growth and Sustainability Levy (GSL), which is a non-deductible expenditure and pegged at 1 per cent of production on extractive sector companies. In his state of Mining Industry report, the President of the Ghana Chamber of Mines, Michael Edem Akafia, said the non ...

Evaluating the Large-Scale Mining Fiscal Regime in the …

Abstract Economies that derive substantial government revenues from natural resources face the unique challenge of implementing fiscal regimes that deliver a fair share of rents without discouraging private investment in extractive sectors. However, designing progressive and non-distortionary fiscal tools requires an evaluation of the current fiscal …