The Ghana Chamber of Mines has asked Reuters to clarify aspects of a report on the proposed Minerals and Mining Bill, 2026, particularly the special-share provision and the proposed duration of mining leases.

In a statement issued on Wednesday, October 7, the Chamber said the Reuters report published on September 30 raised issues that required additional legal and policy context.

The report was headlined “Ghana bill would give state special share rights in mining firms, draft shows.”

Special-share power already exists under Act 703

The Chamber said the special-share power referred to in the Reuters report is already provided for under Ghana’s existing Minerals and Mining Act, 2006 (Act 703).

According to the Chamber, Section 60 of Act 703 allows the Minister responsible for mines, by written notice, to require a mining company to issue a special share to the Republic for no consideration.

“The power has therefore been part of Ghana’s mining legislation since 2006,” the Chamber said.

It explained that under Act 703, the special share is a non-voting preference share.

“Unless the Minister and the company agree otherwise, it does not confer rights to dividends, profits or company assets upon liquidation,” the Chamber said.

However, the share carries consent rights over specified major corporate transactions.

The Chamber said Clause 57 of the published 2026 Bill largely carries forward this framework while increasing the sanctions for non-compliance.

It stressed that its clarification of the provision’s legislative history should not be interpreted as an endorsement of the special-share power or any particular use of it.

The Chamber has therefore asked Reuters to clarify that the power is not being introduced for the first time in 2026, although the Bill would re-enact it with revised sanctions.

Lease duration differs between Bill and government statement

The Chamber also pointed to a difference between the published Bill and a subsequent statement by the Government on the duration of mining leases.

It said Reuters accurately reported the wording of Clause 39(2)(a) in the May 2026 version of the Bill published by Parliament.

That clause provides for an initial mining lease term of 15 years or the forecast life of the mine, whichever is shorter.

However, the Chamber said the Government later stated a different policy position.

At the Government Accountability Series on July 15, 2026, the Minister for Lands and Natural Resources said: “Mining lease period is now fixed at 20 years maximum…”

The Chamber said the statement was made after the Bill had been laid before Parliament and indicated the Government’s subsequently stated policy intention.

However, it said the ministerial statement does not by itself amend the Bill.

“Unless and until Parliament changes the text during its consideration,” the Chamber said, the published Bill remains the relevant text.

It therefore asked Reuters to reflect both positions and make clear that the 20-year figure is the Government’s stated policy intention and not the current wording of the published Bill.

Chamber calls for accurate reporting

The Chamber said accurate reporting was important for public debate and the international investment community.

It said the Bill contains substantive proposals that require careful examination and that it would continue engaging the Government, Parliament and regulators on their implications for responsible mining, investment, competitiveness and Ghana’s long-term national interest.

The Chamber said reporting should distinguish between existing law and proposed changes, as well as between the text of a Bill and subsequent ministerial statements on policy intentions.

“Because international reporting informs investors, lenders, mining companies, analysts and policymakers, precision on these distinctions matters,” it said.

The Chamber has asked Reuters to update its report to state that the special-share power already exists under Section 60 of Act 703 and to acknowledge the Government’s July 15 statement on a maximum 20-year mining lease term.

The Chamber also encouraged media organisations covering Ghana’s mining sector to engage relevant institutions and clearly present material legal and policy distinctions.

It said it remained committed to constructive engagement on the Minerals and Mining Bill, 2026.

The Chamber said it supports reforms that strengthen governance, deepen Ghanaian participation and increase national value while preserving the predictability and competitiveness required for responsible, long-term mining investment.