Ghana Sets December Deadline For Newmont, AngloGold, Zijin To Shift Mining To Local Firms
Ghana sets December 2026 deadline for Newmont, AngloGold and Zijin to transfer mining operations to local firms or face penalties.
Ghana sets December 2026 deadline for Newmont, AngloGold and Zijin to transfer mining operations to local firms or face penalties.
The directive marks a major push by Ghana Africa’s top gold producer to enforce stricter local ownership rules aimed at boosting domestic participation in the mining sector.
Ghana’s Minerals Commission has given the three companies, which still operate mines using their own staff, a firm deadline to transition to contract mining. They are the last major operators yet to comply after new regulations introduced in January 2025 required all miners to outsource operations under local ownership structures.
Under the rules, surface mining must be carried out by fully Ghanaian owned firms, while underground mining operations must be handled by companies with at least 50% Ghanaian ownership.
Apart from the three firms and AngloGold Ashanti’s smaller Iduapriem mine, most large scale miners in Ghana have already adopted contract mining, according to government officials and industry executives.
The commission’s instructions were outlined in letters sent in October and January, which warned that failure to comply by the deadline could result in penalties or even mine closures.
Zijin’s Ghana unit said it has been working with regulators since late 2025 to align with the local content rules, including preparing tenders and technical frameworks for the transition.
Newmont and AngloGold Ashanti have not publicly responded, though sources said Newmont recently sought an extension until 2027. Regulators rejected the request, noting that other listed firms have already met the requirements.
The policy shift reflects a broader trend across African nations seeking to increase revenues from natural resources amid rising global commodity prices. Governments are tightening mining regulations to ensure more value is retained locally and to build capacity among domestic firms.
Officials say Ghanaian companies, including emerging players in the mining services sector, are capable of taking on expanded roles, with the government prepared to support their transition.
Authorities warned that companies that fail to comply could face significant fines and, ultimately, suspension of operations if they continue to defy the rules.
