Ghana's cabinet has approved amendments to its mining law for submission to parliament, Mines Minister Emmanuel Armah-Kofi Buah said on Wednesday, as part of government efforts to increase oversight of the key revenue-earning sector and curb illegal mining.
Ghana, Africa's top gold producer, has been implementing reforms aimed at boosting state revenue and increasing local participation in its mineral wealth.
The proposed law also creates district mining committees, giving host communities an early role in the licensing process.
Reconnaissance and prospecting licences will be replaced by a single exploration licence capped at five years, with extensions contingent on a review of an initial two-year work programme.
“If for five years you can’t act, we will take it from you”, Buah said, adding that the measure targets speculators who hold licenses without investing in exploration.
Mining leases would remain capped at 20 years, but companies would now be required to sign separate community development agreements negotiated directly with host communities, rather than decided unilaterally by the mining company, he added.
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