Ghana mining investment attractiveness has declined in the latest Global Mining Investment Attractiveness Index, with the country slipping seven places from 46th position in 2024 to 53rd out of 68 jurisdictions in 2025.
According to the Annual Mining Survey by the Fraser Institute, Ghana’s score fell slightly from 56.98 percent in 2024 to 55.21 percent in 2025. The sharper drop in ranking, however, reflects stronger performance and improved competitiveness by other countries assessed in the latest survey.
The index measures how both mineral potential and government policy influence investor decisions on exploration spending.
Africa Position and Investor Sentiment
On the African continent, Ghana ranked eighth out of 16 countries, placing it just two positions ahead of South Africa. The country recorded an overall score of about 55 percent, highlighting moderate investor confidence but also indicating room for policy and regulatory improvements.
The survey evaluates the extent to which public policy factors such as taxation levels, regulatory uncertainty, environmental rules and political stability either encourage or discourage mining investment.
The Investment Attractiveness Index combines two key components: the Best Practices Mineral Potential Index, which assesses geological prospects, and the Policy Perception Index, which reflects industry views on the investment climate.
Survey Methodology and Industry Scope
The 2025 survey was conducted electronically between August 5 and November 26 and targeted approximately 2,304 mining professionals worldwide.
More than 46 percent of respondents were company presidents or vice-presidents, while over a quarter were managers or senior managers. Participating companies reported combined exploration spending of about US$4.2 billion in 2025.
The Fraser Institute noted that the number of jurisdictions included varies each year depending on commodity price trends and global mining activity. The organisation assessed 82 jurisdictions in 2024, compared with 86 in 2023 and 84 in 2022.
Policy Debate and Sector Concerns
The latest ranking comes at a time of growing debate within Ghana’s mining sector over proposed government reforms, including possible changes to taxes and regulatory frameworks.
Some mining companies have warned that adjustments to the fiscal regime could affect profitability and potentially influence investment decisions, with implications for employment and exploration activity.
Government officials, however, argue that reforms are necessary to ensure the country captures greater value from its mineral resources while maintaining a competitive environment for investors.
The findings highlight the delicate balance Ghana must strike between strengthening national revenue from mining and preserving its attractiveness as a destination for global exploration capital, as competition for investment intensifies across emerging mineral economies.
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