John Mahama sets 2030 deadline to end raw mineral exports

President John Dramani Mahama has announced a target to halt the export of unprocessed mineral ores from Ghana by 2030, marking a significant shift toward domestic industrialisation. Speaking at the 2026 Mining in Motion Conference in Accra on October 19, the President outlined a phased prohibition strategy covering critical minerals such as bauxite, manganese, iron, and lithium. The initiative aims to move the country beyond a "dig and ship" economy toward a value-addition model that fosters job creation and retains a greater share of mineral wealth within Ghana. This policy will be supported by new legal frameworks and specific processing obligations for mining investors.

Highlighting the potential of the sector, President Mahama revealed that the Ghana Gold Board generated $10.8 billion in foreign exchange from artisanal and small-scale gold exports in 2025, a substantial increase from the $4.66 billion recorded in 2024. He attributed this growth to more effective regulation and enhanced local assaying and refining capabilities. The government intends to build on this success by developing the Ghana Integrated Aluminium Development Corporation (GIADEC) and the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) to ensure that raw materials drive the country's manufacturing and infrastructure sectors.

Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, assured the international community that these reforms would be implemented through clear regulations and fair administration. He emphasized that while the government is committed to ensuring Ghanaians receive a fairer share of mineral wealth, it remains dedicated to maintaining a stable and lawful investment environment. The Minister encouraged investors to align their operations with Ghana's development goals, particularly in workforce training and the establishment of commercially viable local processing plants.

The Asantehene, Otumfuo Osei Tutu II, endorsed the "reset agenda," noting that domestic processing is vital to breaking the cycle of poverty in mining communities. He urged African leaders to move beyond policy reforms and actively support the creation of indigenous "mining giants" capable of competing globally, similar to successful business models in other sectors. President Mahama echoed this call for regional cooperation, urging African nations to leverage the rising global demand for critical minerals—essential for the global clean energy transition—to build a unified industrial base across the continent.