Govt to develop indigenous framework for managing natural resources – Mahama

The government has announced plans to develop a comprehensive indigenous framework for the management of Ghana’s natural resources in the coming months.

This move comes in the wake of the recent standoff involving the exit of Goldfields from the Damang mine, where the company had operated for nearly 30 years under the same license.

According to the Minerals Commission, Goldfields failed to meet key obligations under its lease agreement, prompting government action.

However, a compromise has since been reached that allows for joint management of the Damang mine by the government and the company for one year, pending parliamentary ratification.

Speaking at the opening of a four-day Executive Leadership Programme for Ministerial Appointees on Thursday, April 24, 2025, President John Dramani Mahama assured Ghanaians that the country has the capacity to manage its natural resources without depending solely on foreign entities.

“In the next few months, we will develop a policy on indigenous participation in our natural resources exploitation. We are not going to expropriate anybody’s lease or something, but if any renewal comes to us, we would want to negotiate and ensure that there is more Ghanaian participation. So that we can also raise the resources to bring prosperity to our people, he stated.

Source: channel1news