Natural resource governance expert Dr Steve Manteaw has cautioned against what he describes as a growing rush to hand over Ghana’s mineral resources without careful consideration of the country’s past experiences in the mining sector.

According to Mr. Manteaw, Ghana previously exercised full control over its gold mining industry but struggled with significant operational and financial losses during that period.

He noted that the introduction of Foreign Direct Investment (FDI) played a key role in revitalising the sector, improving production, attracting capital, and enhancing operational efficiency.

Dr Manteaw's caustion comes on the back of the Institute of Economic Affairs (IEA) decsion to escalate its call for the Ghanaian government to prioritise local ownership of natural resources by opposing the renewal of Gold Fields’ lease for the Tarkwa mines, which expires in 2027.

During a press conference in Accra, former Chief Justice and IEA Fellow Sophia Akuffo advocated for increased national control over strategic assets and greater Ghanaian participation in mineral resource management.

He made this reamark in a post on Facebook 

Mr. Manteaw therefore urged policymakers and stakeholders to exercise caution in ongoing debates surrounding the management and ownership of Ghana’s mineral resources.

“Ghana once had total control of its gold mining and ran huge losses.

It took FDI to change the situation.

Let’s be careful,” he stated.

His comments come amid growing national discussions on increasing indigenous participation and local ownership within Ghana’s extractive sector, particularly in the mining industry.

Mr. Manteaw stressed the importance of balancing national interest with strategic investment partnerships to ensure sustainable growth and long-term benefits for the country’s economy.