The Ghana Chamber of Mines has responded to a Reuters report on the proposed Minerals and Mining Bill 2026, stating that the report overstated the novelty of a state 'special share' power. According to the Chamber, this power has existed in Ghanaian law since 2006. The Chamber's statement was made in a rejoinder dated October 7, 2026, in response to a September 30 Reuters report. The report had described the special-share power as "alarming".
The Chamber pointed to Section 60 of the Minerals and Mining Act, 2006 (Act 703), which allows the Minister responsible for mining to require a mining company to issue a free special share to the Republic of Ghana. This special share is a non-voting preference share that does not entitle the state to dividends, profits, or a share of company assets if the business is wound up. However, it gives the government consent rights over certain major corporate transactions.
The proposed Minerals and Mining Bill 2026, Clause 57, largely carries forward this existing arrangement, with the main change being stiffer sanctions for companies that fail to comply. The Chamber has asked Reuters to update its report to reflect that the special-share power is not being introduced for the first time under the new Bill. The Chamber's External Relations and Sustainability Officer, Albert Amekudzi, signed the rejoinder.
A separate dispute has emerged over the length of mining leases. The Chamber confirmed that Reuters accurately reported Clause 39(2)(a) of the May 2026 draft laid before Parliament, proposing an initial lease term of 15 years or the forecast life of the mine, whichever is shorter. However, the Minister for Lands and Natural Resources stated on July 15, 2026, that the mining lease period was now fixed at a maximum of 20 years.
The Chamber argued that accurate reporting on the mining sector is crucial, as it is closely followed by investors, lenders, mining companies, analysts, and policymakers. The Chamber respects the role of Reuters and other media in scrutinising legislation but emphasised the importance of distinguishing between existing law, proposed legislative changes, and later government statements.
Mining remains one of Ghana's largest sources of foreign exchange earnings. The Chamber said it remains committed to engaging constructively with the reform process, which also touches on local content requirements and other changes to the sector's governance. The Minerals and Mining Bill 2026 remains before Parliament, but there is no indication of when lawmakers will complete consideration or vote on the legislation.
As of the Chamber's October 7 rejoinder, Reuters had not publicly responded to the request to update its report. The Chamber's clarification aims to provide accurate information to stakeholders and avoid confusion in the assessment of investment risk in Ghana's mining industry.
Key points
- The Ghana Chamber of Mines disputes the novelty of a state 'special share' power in the proposed Minerals and Mining Bill 2026, stating it has existed since 2006.
- The Chamber and Reuters have a separate dispute over the length of mining leases, with the Chamber citing the original bill and the Minister for Lands and Natural Resources stating a maximum lease period of 20 years.
- Accurate reporting on the mining sector is crucial for investors, lenders, and policymakers, according to the Chamber.
