Gov’t Defends Mineral Royalty Hike (Says Move Funds Anti-Galamsey Fight, Boosts Development)
The Ministry of Lands and Natural Resources has backed the government’s choice to change mineral royalties, saying that Ghana’s mineral wealth should be used to support national development and protect the environment. Officials say the move is necessary to fund the National Anti-Illegal Mining Operations Secretariat (NAIMOS), which needs more than GH¢250 million to fight illegal mining, and to make sure that long-term environmental and development projects have a steady stream of money. The Ministry understands the concerns of industry stakeholders and diplomatic missions, but it says that the sliding-scale royalty model makes sure that the state gets more money when global commodity prices are high. This money goes to the Minerals Income Investment Fund for infrastructure, education, healthcare, and environmental protection. The government says that the law will be put into effect to make the sector’s contribution to the country’s prosperity and long-term viability stronger.
