President of the Ghana Chamber of Mines, Michael Edem Akafia, has lauded the government’s decision to abolish Value Added Tax (VAT) on mineral exploration, describing the policy shift as a major breakthrough that could unlock Ghana’s next wave of mining projects.
Speaking at the 2025 Mining Industry Awards, Mr. Akafia said the move marks a significant step toward boosting investment in the country’s extractive sector.
“In acknowledging a recent happening in our industry, which we believe will lead to creating the next pipeline of projects, we thank the President, our sector minister, and the minister for finance for the abolishment of VAT on exploration.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
He added that the Chamber had long advocated for this change, and the industry is pleased to see a major policy concern finally addressed.
“We kindly ask the Honourable Minister’s representative to convey our gratitude to all those who played a role in realising something the Chamber has been pushing and clamouring for.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
Mr. Akafia emphasized that Ghana’s mining industry stands at what he called a “defining moment”, a period of transition, transformation, and heightened responsibility as societal expectations evolve.
“Mining remains the backbone of Ghana’s economy, contributing significantly to foreign exchange earnings, government revenue, job creation, and community development.
“Yet, we are also at a point where society’s expectations of mining continue to increase.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
He added that the awards ceremony offered an opportunity to celebrate excellence, innovation, and the dedication of workers and communities who make the sector thrive.
This year’s awards theme, “Celebrating Excellence in Mining: Creating Value Beyond Minerals and Mining,” he said, captures the broader role mining must play in national development.
“The theme is not just a slogan. It reflects what our industry stands for and what we strive to uphold each and every day.
“Mining is not simply about the extraction of ore; it’s about transforming economies, supporting communities, protecting the environment, and shaping Ghana’s development narrative.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
Honouring Excellence and Collaboration
Mr. Akafia applauded the resilience and professional commitment demonstrated across the mining value chain, noting that the industry’s strength rests on collaboration rather than rivalry.
“The good thing about our industry is that for our members, we don’t compete for market shares. So we root for each other and celebrate each other.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
He stressed that the awards recognise not only corporate achievement but also the dedication of workers, communities, and regulators who continue to lift Ghana’s mining industry to global standards.
Chamber Backs Inclusive Review of Mining Laws
With Ghana currently reviewing its Minerals and Mining Act, Mr. Akafia praised government’s consultative approach and called for policy reforms that will support long-term sector competitiveness.
“Global competition is fiercer and policy certainty has never been more critical for our industry.
“It’s against this backdrop that the Chamber appreciates the consultative approach that the government is adopting regarding the ongoing review of the Minerals and Mining Act.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
He highlighted the industry’s hope that the review will promote investor confidence and empower host communities.
“We are hopeful and we trust that this process will reflect Ghana’s ambition to maintain its global competitiveness and remain investor-friendly… so that ultimately the legislative and policy framework will strengthen the industry and not stifle it.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
Mr. Akafia stressed that the ongoing review represents a strategic opportunity to unlock value along the mining chain, particularly in areas such as local content, downstream processing, and community development.
The Chamber President reiterated that mining is a long-term venture requiring predictable regulations and stable fiscal regimes. Frequent changes, he warned, risk discouraging investment and slowing Ghana’s development agenda.
“Policy stability is therefore a critical and urgent issue for the industry.
“We trust that Ghana would uphold a consistent fiscal regime that is transparent for staff, deepening investor confidence.”
Michael Edem Akafia, President of the Ghana Chamber of Mines
He cautioned that “frequent policy changes, even with the best of intentions, sometimes create uncertainty and hamper the long-term development of our industry.”
Mr. Akafia reaffirmed the Chamber’s commitment to deepening collaboration with government as Ghana heads toward a century of mining excellence. He expressed optimism that with the right policies, Ghana can strengthen its leadership as a mining destination while ensuring that host communities fully benefit from mineral wealth.
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