The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has called for a shift from Ghana’s dependence on free-carried interests and royalties to greater equity ownership in mining projects to enable the country to retain more value from its mineral resources.
Speaking at the African Minerals Policy Centre’s 2026 Mining in Motion Forum (AMPF-MiM 2026), Mr Gyamfi said Ghana must strengthen its capacity to own a greater share of mining assets rather than rely heavily on existing revenue arrangements.
He said the Gold Board was addressing one of the major barriers to greater Ghanaian participation in mining by supporting geological investigations to reduce the risks associated with mineral exploration.
Under its mining support programme, GoldBod is partnering the Ghana Geological Survey Authority to undertake geological studies in mineralised areas to attract credible international investors and expand Ghana’s mining base.
Mr Gyamfi disclosed that geological investigations were ongoing in Funsi in the Upper West Region and Bensri in the Ashanti Region.
According to him, the studies would help establish a reliable portfolio of investment-grade mineral assets, reduce investor risks and strengthen Ghana’s negotiating position for equity stakes in mining projects developed from the identified deposits.
He said the approach would help Ghana move towards greater ownership of its mineral resources and the economic opportunities they generate.
“This is how we as Africans can move our nations from the over-dependence on free-carried interests and royalties to controlling equity interests in sustainable mines,” he said.
READ: ASM sector has shown greater potential than large-scale gold mining for two years – Sammy Gyamfi
Mr Gyamfi also argued that mineral sovereignty remained incomplete when critical aspects of the mining value chain, including financing, equipment, technology, processing, trading and high-value opportunities, were controlled outside Africa.
He called for deliberate government policies to remove barriers preventing capable local enterprises and young African entrepreneurs and professionals from owning, operating and expanding businesses across the mining industry.
He said greater local participation should extend beyond providing labour and extracting minerals to include roles in mining operations, geology, engineering, equipment ownership, financing, processing and refining.
READ: AMPF–MiM 2026: Africa’s mineral wealth must deliver jobs, opportunities for youth – Mahama
Sammy Gyamfi stressed that mineral resources alone could not guarantee national prosperity, emphasising the importance of policies, institutions and leadership in determining how the benefits of mineral wealth were distributed and retained.
“Geology creates potential. Policy decides who should benefit. Institutions decide whether value is retained or lost. And leadership decides whether a mineral boom becomes a passing statistic or the foundation of lasting transformation,” he said.
