Ghana Slips to 8th in Africa on Global Mining Investment Attractiveness Rankings
Ghana has dropped seven positions in the most recent Global Mining Investment Attractiveness Index, moving from 46th place out of 82 jurisdictions in 2024 to 53rd out of 68 jurisdictions in 2025.
The country posted a score of 56.98 per cent in 2024 to secure the 46th spot. In 2025, its score edged down slightly to 55.21 per cent. Despite the marginal decline in score, the more pronounced fall in ranking reflects improved performance by several other jurisdictions included in the latest assessment.
The results form part of the Annual Mining Survey published by the Fraser Institute, which examines how mineral resource potential and public policy variables such as taxation levels and regulatory predictability affect decisions on exploration investment.
Across Africa, Ghana ranked 8th among 16 countries surveyed, positioning it just ahead of South Africa, with an overall rating of 55 per cent.
The survey was carried out electronically between August 5 and November 26, 2025, and reached approximately 2,304 professionals within the global mining industry.
Of the respondents, more than 46 per cent were company presidents or vice-presidents, while over a quarter held managerial or senior managerial roles. The companies that took part in the survey reported combined exploration expenditure of about US$4.2 billion in 2025.
Jurisdictions, including countries, provinces and states, are evaluated based on how far their policy environments either support or discourage mining-related investment.
The Investment Attractiveness Index (IAI) blends two core components: the Best Practices Mineral Potential Index, which measures geological attractiveness, and the Policy Perception Index, which assesses the influence of government policy on exploration confidence.
The scope of jurisdictions covered has varied over time. The Fraser Institute reviewed 82 jurisdictions in 2023, 86 in 2022 and 84 in 2021, with the changes largely reflecting shifts in commodity price trends and the level of activity in the global mining industry.
The publication of the report coincides with growing concerns among some mining firms in Ghana regarding government intentions to reassess taxes and regulatory policies within the sector.
Certain companies, in comments to JoyBusiness, warned that the proposed reforms could have consequences for margins and employment if implemented.
Government representatives, however, argue that the planned changes are designed to ensure Ghana secures a fairer share of benefits from its mineral resources, while maintaining a balance between investment competitiveness and broader national economic priorities.
