Mr Patrick Yaw Boamah, NPP Member of Parliament for Okaikwei Central and Chairman of the Subsidiary Legislation Committee, made the call, on behalf of the Caucus, during a news conference at Parliament House on Tuesday. 

The Okaikwei Central legislator said the Minerals and Mining Royalties legislation, which was laid before Parliament on December 19, 2025, constitutionally took effect today (March 10,2026) after 21 sitting days. 

Mr Boamah noted that despite this timeline, the government has failed to implement promised policies, including the reduction of the Growth and Stability Levy from three to one per cent. 

He warned that the new royalties’ regime could negatively impact the finances and investments of mining firms, potentially leading to job losses of about one million.  

He cautioned that multinational companies may relocate to neighbouring countries with more attractive extractive legislation, which would further weaken Ghana’s position in the global mining perception and investments index rankings. 

“Ghana is already declining in terms of global mining perception, with investments being diverted to Colombia, Peru, South Africa, and Côte d’Ivoire. We must be strategic in attracting mining investments,” Mr Boamah stressed. 

He added that Ghana was projected to receive about seven billion dollars in mining investment inflows by the end of 2028, but the new royalties legislation could hamper this target. 

The sliding scale royalties regime in Ghana’s mining sector ties royalty payments to prevailing commodity prices.  

Under this system, mining companies pay higher royalties when gold prices rise and lower rates when prices fall.  

While intended to stabilise government revenue, critics argue that it increases operational costs for mining firms during periods of high global prices, thus discouraging investment and threatening job security.