Takoradi MP Kwabena Okyere Darko-Mensah has proposed sweeping reforms to Ghana’s mining sector, including restructuring GoldBod’s ownership and creating a dedicated mining bank.

The Member of Parliament for Takoradi, Kwabena Okyere Darko-Mensah, has called for major reforms in Ghana’s mining industry, proposing changes to the ownership structure of the Ghana Gold Board (GoldBod) and the establishment of a specialised mining bank to support responsible mining operations.

Speaking in an interview with DAILY GUIDE, the former Western Regional Minister argued that GoldBod’s current 100 per cent government ownership model should be revised to give greater representation to key industry stakeholders. He proposed a new shareholding structure comprising 40 per cent government ownership, 25 per cent for miners, 20 per cent for traders and 15 per cent for traditional authorities.

According to him, broadening ownership would ensure that all stakeholders have a voice in policy formulation and decision-making within the sector.

Mr. Darko-Mensah also advocated the creation of a mining bank to provide legitimate financing for miners and reduce dependence on sources linked to money laundering and environmentally harmful mining practices.

He further called for the decentralisation of mining licensing processes, proposing that licensing should begin and end at the district level with the active participation of chiefs and district mining committees already established under existing laws.

The Takoradi MP said district-level mining committees should be empowered to oversee land reclamation efforts and ensure that mined areas are restored after operations cease.

To improve standards across the industry, he proposed assigning a qualified engineer to every mining licence issued. The engineers, he said, would supervise mining activities, enhance safety compliance, monitor water pollution, oversee land restoration and ensure the proper use of approved chemicals and mining methods.

“This could ensure standards across the country and achieve a good gold brand for Ghana,” Mr. Darko-Mensah stated.

On revenue distribution, he proposed a gross-output sharing formula under which 18 per cent of mining revenues would be allocated directly to mining communities for development and investment. He suggested that two per cent should go to district administrations, five per cent to reclamation and restoration projects, another five per cent for royalty payments, and the remaining 70 per cent to the national treasury for broader development programmes.

Providing context for his proposal, Mr. Darko-Mensah noted that large-scale mining companies already contribute about 26 per cent of their gross revenues to the state through taxes, royalties, corporate social responsibility initiatives and other statutory payments. He argued that small-scale miners, operating at lower costs, could make similar contributions under a well-regulated system.

The MP also called for the construction of tailings dams for alluvial miners or the establishment of processing centres to curb water pollution. He further advocated the redevelopment of mining communities through infrastructure projects supervised by Regional Coordinating Councils and supported by adequate national funding.