Parliament Approves Growth and Sustainability Levy Amendment Bill, Raising Mining Levy to 3%
Parliament has passed the Growth and Sustainability Levy Amendment Bill 2025, raising the levy on gold mining companies from 1% to 3% of their gross production. The amendment also extends the levy’s application period to 2028.
During the parliamentary debate, Finance Minister Dr. Cassiel Ato Forson defended the increase, asserting that the government must take advantage of rising gold prices to generate additional revenue for national development.
However, Minority Leader Alexander Afenyo-Markin strongly opposed the bill, warning that the tax hike could negatively impact the private sector, particularly the extractive industry. He cautioned that the measure could discourage investment and place an undue financial burden on mining companies operating in the country.
Despite opposition from the Minority, the bill was approved through a majority vote.
The passage of the bill comes despite a formal petition by the Ghana Chamber of Mines to Parliament’s Finance Committee, urging lawmakers to reconsider the proposed increase. The Chamber warned that the move could have far-reaching consequences for the country’s mining sector, potentially stifling investment and reducing the industry’s competitiveness.
The levy hike, as outlined in the 2025 Budget Statement, has raised concerns among industry leaders, who argue that the sharp increase could undermine long-term sustainability. Mining sector stakeholders continue to express apprehension over the potential economic implications, urging the government to adopt policies that balance revenue generation with investment growth.
