{"id":93637,"date":"2025-09-11T14:29:27","date_gmt":"2025-09-11T14:29:27","guid":{"rendered":"https:\/\/sotnews.agency\/?p=93637"},"modified":"2025-09-11T14:29:27","modified_gmt":"2025-09-11T14:29:27","slug":"stop-mining-lease-renewals-for-foreign-companies-iea-to-government","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=93637","title":{"rendered":"Stop mining lease renewals for foreign companies \u2013 IEA to government"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 18 Second <\/div>\n\n <\/div>
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The Institute of Economic Affairs (IEA) is pushing for an end to the renewal of mining leases for foreign companies, insisting that such leases must be transitioned to Ghanaian ownership.<\/p>\n

The policy think tank welcomed the government\u2019s recent decision to cut lease durations from 30 to 15 years but said it was disappointed that three foreign-owned firms, Newmont Golden Ridge Ltd, Gateway Exploration Ltd, and GBF Associates Ghana Ltd, had their leases renewed without a clear roadmap for Ghanaian takeover.<\/p>\n

A senior fellow at the IEA, Dr E.O. Osae, said the institute recognised Parliament\u2019s ratification of a special one-year, non-renewable lease granted to Boston Goldfields Limited. <\/p>\n

He explained that the measure was aimed at ensuring a smooth handover of the Daman mine from Goldfields to the Government of Ghana.<\/p>\n

\u201cWhile our preference was for a complete halt to any further leases to foreign entities and the immediate assumption of local ownership of our natural resources, we acknowledge the government\u2019s efforts to grant a one-year lease with strict non-renewable terms as a transitional measure,\u201d Dr Osae said.<\/p>\n