Parliament of Ghana has passed the Growth and Sustainability Levy (Amendment) Bill, 2026, reducing the levy imposed on gold mining companies from 3 percent of gross production to 1 percent.
The move is aimed at cushioning mining firms following the introduction of the Minerals and Mining Royalty Regulations, 2025, which introduced a sliding-scale royalty system tied to global commodity prices.
The new regulatory framework allows royalty rates to be adjusted depending on fluctuations in international gold prices, enabling the state to generate higher revenue during periods of elevated commodity prices.
Despite the government’s justification, the Minority Caucus in Parliament has raised concerns about the potential economic implications of the regulation.
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According to the Minority, the new Legislative Instrument could cost Ghana up to one million jobs while also making the country’s mining sector less attractive to investors.
Responding to the concerns, Deputy Minister for Finance Thomas Nyarko Ampem explained that the reduction in the Growth and Sustainability Levy is intended to offset the financial burden created by the new royalty framework.
“We don’t make laws to suit individuals. We are bringing this change so that Ghana can take maximum advantage of its natural resources,” he said.
He added that Ghana has been blessed with abundant gold resources but has not fully maximised the economic benefits over the years.
“This arrangement will make it fair to gold mining companies, and it will also make it fair to Ghanaians who are the owners of this natural resource,” he noted.
Industry observers say the amendment is part of broader efforts by government to balance revenue generation with maintaining investor confidence in the mining sector, which remains one of Ghana’s key sources of foreign exchange and employment.