Who can own reconnaissance, exploration, and mining rights?

Generally, only companies incorporated under the Companies Act, 2019 (Act 992) or partnerships incorporated under the Incorporated Private Partnerships Act, 1962 (Act 152) or any other enactment in force for the time being are granted rights to undertake reconnaissance, exploration, or mining operations.

Non-citizens may apply for a mineral right in respect of industrial minerals if the proposed investment in the mineral operations is at least USD 10 million. A small-scale mining licence may only be issued to an individual who is a Ghanaian that has attained the age of 18 years and is registered by the Minerals Commission in an area designated for small-scale mining operations.

Provisions for foreign entities

A foreign entity will not be granted rights in Ghana unless a separate company is incorporated in Ghana. Additionally, all companies in Ghana with foreign participation must register with the Ghana Investment Promotion Centre under the Ghana Investment Promotion Centre Act, 2013 (Act 865).

A wholly foreign-owned entity must invest a minimum of USD 500,000 in cash or goods/equipment, whilst a foreign entity which partners with a Ghanaian entity must invest a minimum of USD 200,000 in cash or capital goods relevant to the investment, or a combination of both by way of equity participation. The Ghanaian partner must have at least 10% equity participation in the joint enterprise.

For more insights on the Mining Sector check out our chapter in the the GLI Mining 2024 Guide here