Parliament Passes Bill Reducing Growth and Sustainability Levy on Mining Firms From 3% to 1%
Parliament has passed the Growth and Sustainability Levy (Amendment) Bill, 2026, which reduces the levy imposed on gold mining companies from 3 percent of gross production to 1 percent.
The amendment forms part of efforts by government to cushion mining firms following the introduction of the Minerals and Mining Royalty Regulations, 2025.
The Legislative Instrument establishes a sliding-scale royalty framework that allows rates to be adjusted in response to fluctuations in international gold prices, enabling the state to increase its revenue during periods of higher commodity prices.
However, the move has drawn criticism from the Minority Caucus in Parliament, which argues that the new regulatory framework could have adverse consequences for the mining industry.
According to the Minority, the implementation of the new royalty regime could potentially cost the country up to one million jobs and make Ghana’s mining sector less attractive to investors.
Responding to the concerns during parliamentary deliberations, Deputy Minister for Finance, Thomas Nyarko Ampem, explained that the reduction in the Growth and Sustainability Levy is intended to offset the potential burden that may arise from the new royalty structure.
“We don’t make laws to suit individuals. We are bringing this change so that Ghana can take maximum advantage of its natural resources,” he said.
“We all know that we have been blessed with gold. Over the years, we haven’t taken enough advantage of this resource. This arrangement will make it fair to mining companies, and it will also make it fair to Ghanaians who are the owners of this natural resource,” he added.
The amendment is expected to ease cost pressures on gold mining firms while government implements the new royalty framework aimed at strengthening revenue mobilisation from the extractive sector.
