At the Mining Sector Local Content Summit, President John Dramani Mahama has called for a decisive shift in Ghana’s mining industry, urging stakeholders to move beyond raw mineral exports and build stronger local capacity across the value chain.
Speaking at the 2026 summit held at Palms by Eagle in Takoradi on February 18, the President acknowledged mining’s historic contribution to the economy but stressed that Ghana must now focus on capturing more value domestically.
“For over a century or more, mining has been the backbone of Ghana’s economy,” he said, referencing key mining towns from Obuasi to Tarkwa and emerging lithium areas such as Ewoyaa.
Despite this legacy, he noted, the country must confront “an uncomfortable truth” about limited local participation in high-value segments of the industry.
Ghana remains Africa’s leading gold producer and ranks among the top six globally. In 2023 alone, the extractive sector generated nearly $6.6 billion in export revenues. Yet according to President Mahama, much of the sophisticated work within the mining value chain, advanced engineering, equipment manufacturing, refining, and technical services continues to take place outside the country.
“While Ghana is Africa’s leading gold producer and amongst the top six globally, much of the high-value activity in our mining value chain still takes place outside our borders.”President John Dramani Mahama stated
The President pointed out that domestic procurement accounts for only a small fraction of total sectoral spending, revealing a structural imbalance between mineral extraction and local industrial development.
“We’ve been prolific producers, but we have not yet become full participants in the extractive value chain,” he said, framing the summit as an opportunity to change course.
Defining Ghana’s Mining Legacy
Central to the President’s remarks was a question he described as fundamental to the country’s long-term development: what will be the legacy of Ghana’s mineral wealth a century from now? “What will be the true legacy of Ghana’s vast mineral wealth 100 years from now?” he asked.
“Will it be recorded only in export statistics and royalty payments, or will it be remembered as the foundation upon which we build world-class industries, thriving Ghanaian enterprises, and resilient mining communities?” President Mahama questioned.
For President Mahama, the answer lies in transforming mineral wealth into sustainable industrial growth. He emphasized that Ghana must shift its mindset from resource extraction to value retention and capacity development.
The summit, he said, should serve as a compass guiding policymakers, investors, and industry players toward a future where local businesses and skilled professionals play a central role in mining operations.
Lessons from Global Peers
In making his case, President Mahama drew comparisons with other resource-rich nations that have successfully leveraged their mineral wealth for broader economic transformation.
He cited Botswana as an example of how strategic partnerships can enhance citizen participation in the diamond sector. Similarly, Chile was highlighted for transforming its copper advantage into a robust mining technology ecosystem.
He also referenced Indonesia, which mandated domestic processing of nickel, positioning itself at the center of the global electric vehicle battery supply chain.
His message underscored that local content frameworks should not be viewed as protectionist barriers, but as strategic tools to build industrial resilience and long-term economic value.
While advocating ambitious reforms, President Mahama cautioned against poorly designed policies that could undermine investor confidence.
“The key is balance,” he said. Local content policies must be “both ambitious and practical,” firm yet performance-based.
He stressed that the focus should go beyond percentage quotas and instead prioritize measurable outcomes in skills development, technology transfer, and enterprise growth.
In his view, sustainable transformation requires deliberate investment in human capital, local manufacturing capacity, and institutional strengthening.
A Turning Point for Ghana’s Mining Sector
The Mining Sector Local Content Summit comes at a time when global supply chains are evolving and demand for critical minerals, including lithium, is rising.
For Ghana, the challenge is not merely to extract more minerals, but to ensure that extraction translates into inclusive economic development.
President Mahama’s remarks suggest that the country stands at a crossroads. With significant mineral reserves and a long history of mining, Ghana has the foundation to build integrated industries around its resources.
However, realizing this potential will require coordinated action between government, private sector actors, regulators, and local enterprises.
As deliberations continue beyond the summit, stakeholders are expected to examine policy reforms, investment incentives, and capacity-building strategies aimed at strengthening domestic participation.
Ultimately, the President’s call to action places responsibility not only on policymakers but also on industry leaders and local businesses to seize emerging opportunities.
If Ghana succeeds in deepening local participation and fostering innovation within its mining ecosystem, the country’s mineral wealth could indeed become the bedrock of world-class industries rather than merely a line in export statistics.
