[SMM Gold Flash] A draft mining bill reviewed by Reuters on 30 September would let Ghana’s mines minister require companies to issue the state a free special share with consent rights over major transactions. It would retain the existing 10% free-carried state interest and limit mining leases to 15 years or the projected mine life, whichever is shorter. The draft would also allow future rules requiring local processing and restricting exports of unprocessed concentrates. None of these proposals has been enacted; Reuters did not establish when the draft was prepared.
For Ghana’s gold miners, the proposed rights and shorter leases could affect financing, valuations and renewal decisions. Under the draft, existing rights holders seeking renewal would receive priority consideration for equivalent licences. Mining companies expect further consultation before parliamentary debate, Reuters reported. The final wording and timing remain uncertain.
