The Ghana Chamber of Mines has pushed for greater clarity around two provisions in the proposed Minerals and Mining Bill 2026, arguing that the state’s power to require a special share in mining companies is not new and that the proposed duration of mining leases remains subject to an unresolved difference between the published Bill and government’s later policy position.
In a statement dated October 7, the Chamber responded to a Reuters report published on September 30 under the headline, “Ghana bill would give state special share rights in mining firms, draft shows.”
The Chamber said the report raised legitimate issues for public debate but needed additional legal and policy context, particularly on the history of the special share provision and the length of mining leases.
Special Share Power Has Existed Since 2006
According to the Chamber, Section 60 of the Minerals and Mining Act, 2006, Act 703, already gives the Minister responsible for mines the power, through written notice, to require a mining company to issue a special share to the Republic without consideration.
The Chamber therefore argues that the 2026 Bill does not create the underlying power for the first time. “The power has therefore been part of Ghana’s mining legislation since 2006,” it stated.
Under Act 703, the special share is structured as a non voting preference share. Unless otherwise agreed between the Minister and the mining company, it does not automatically provide the state with rights to dividends, profits or company assets when the company is liquidated.
It does, however, provide consent rights over specified major corporate transactions.
The Chamber said Clause 57 of the proposed Bill largely retains that structure but introduces significantly stronger sanctions for companies that fail to comply.
It was careful, however, not to present its explanation as support for the special share mechanism itself.
“This comparison explains the provision’s legislative history; it should not be read as the Chamber’s endorsement of the power or of any particular exercise of it,” the statement said.
The Chamber has therefore asked Reuters to clarify that the special share authority already exists under Ghanaian mining law, even though the new Bill proposes to re enact the provision with revised penalties.
15 Year Lease in Bill, 20 Years in Government Statement
The second issue concerns the proposed duration of mining leases.
The Chamber acknowledged that the Reuters report correctly reflected Clause 39(2)(a) of the May 2026 version of the Bill published by Parliament.
That provision sets an initial mining lease period at 15 years or the forecast life of the mine, whichever is shorter.
Government, however, subsequently announced a different policy position.
At the Government Accountability Series on July 15, Lands and Natural Resources Minister Emmanuel Armah Kofi Buah stated that the “mining lease period is now fixed at 20 years maximum.”
That statement came after the Bill had already been laid before Parliament.
The Chamber said the distinction matters because a ministerial statement of policy intention does not by itself alter the wording of legislation before Parliament.
Unless Parliament amends Clause 39 during consideration of the Bill, the published text remains the version specifying the 15 year initial lease period.
“The material point for readers is the unresolved difference between the text published by Parliament and the Government’s later public statement,” the Chamber said.
It wants international reporting to reflect both positions and make clear that the 20 year maximum represents government’s subsequently stated intention rather than the wording currently contained in the published Bill.
Chamber Calls for Precision in Mining Debate
The Chamber said accuracy is particularly important because reports on Ghana’s mining legislation are closely watched by international investors, lenders, analysts and mining companies.
It acknowledged that the Bill contains substantial reforms requiring scrutiny and said it would continue engaging government, Parliament and regulators over their implications.
The Chamber said it supports reforms that strengthen governance, increase Ghanaian participation and allow the country to capture greater value from its mineral resources.
At the same time, it argued that reforms must preserve the predictability and competitiveness required for responsible long term investment.
“That debate is best served when reporting distinguishes existing law from proposed changes and the text of a Bill from later ministerial statements about the Government’s policy intentions,” the Chamber said.
For now, the debate over the Minerals and Mining Bill remains partly one of legislative detail. The state’s special share power already exists under Act 703, while the final position on mining lease duration will depend on what Parliament ultimately approves.
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