Ghana Orders Miners to Localize Operations

Ghana's Ghana — Minerals Commission has issued a directive to major international mining companies, including Newmont, AngloGold Ashanti, and Zijin Mining, to transition their mining operations to local contractors by December 2026. This mandate is part of revised local ownership rules, effective January 2025, which require surface mining to be undertaken by fully Ghanaian-owned firms and underground mining by companies with at least 50% Ghanaian ownership. Newmont's request for an extension until 2027 was rejected by the Ghana — Minerals Commission, which cited other listed miners like Gold Fields having already complied. The regulator has warned of significant fines and potential mine shutdowns for companies that fail to meet the deadline. This policy aims to build capacity among Ghanaian mining service companies and retain more value within Ghana, aligning with a broader trend among African governments to tighten mining regulations.