15/10/2026
Ghana's Minerals Commission has issued formal notices to three of the world's largest gold miners: transfer your mining operations to Ghanaian contractors by December 2026, or face sanctions.
The companies are Newmont Corporation, AngloGold Ashanti, and Chinese-owned Zijin Mining. The directive covers surface mining activities—blasting, loading, hauling, and dumping. Under rules introduced in January 2025, open-pit mining must be carried out by fully Ghanaian-owned firms, while underground operations require at least 50 percent local ownership. Almost every other large miner in Ghana has already complied. These three are the last holdouts.
Newmont asked for an extension until 2027. The regulator rejected it, noting that other listed miners, including Gold Fields, had already met the requirement. Failure to comply could mean heavy fines or mine closures.
The policy is part of a broader strategy to retain more value inside Ghana and build national mining champions. Earlier this year, the government restricted the tender for the Damang gold mine to Ghanaian companies only. Engineers & Planners, led by Ibrahim Mahama, won the bid with a commitment to mobilize at least $500 million and extend the mine's lifespan by 10 years.
But not everyone is celebrating. The Ghana Mineworkers' Union, which represents about 14,000 workers, has warned that local contractors pay roughly half the wages of international operators and offer less job security. The union has threatened strikes and protests, accusing authorities of sidelining labour concerns.
Ghana is Africa's largest gold producer. In 2025, the country produced a record 5.94 million ounces, overtaking the United States to become the world's sixth-largest gold producer. Small-scale mining accounted for 52 percent of that output for the first time in over a century.
The strategy is clear. Ghana is not nationalizing the mines. It is forcing a transfer of operational control to Ghanaians. The gold stays in Ghana. The contracts stay in Ghana. The value stays in Ghana.
Newmont, AngloGold, and Zijin have until December to comply. The clock is ticking.
