Former Chief Justice and Distinguished Fellow of the Institute of Economic Affairs (IEA), Justice Sophia Akuffo, has called for a thorough reassessment of Ghana’s mining agreements to secure greater economic benefits for the country.

She contends that the current arrangements resemble outdated colonial-era contracts, allowing foreign companies to amass significant profits while Ghana receives only a fraction of the returns.

Addressing a press conference on maximizing the benefits of Ghana’s natural resources, Justice Akuffo stressed the urgency of policy reforms to promote local value creation and foster economic growth.

“There is a need to set up a small committee of about five experienced Ghanaian experts in the natural resources sector to review and recommend necessary amendments to all natural resource laws in Ghana to optimize the benefits of natural resources to the country,” she stated.

She further recommended a revision of the "Minerals and Mining Act, 2006 (Act 703)," advocating for provisions that would transfer the management of certain mineral resources to local authorities.

“The Act should contain a provision that moves the management of some mineral resources to local governments such that District Assemblies are directly involved in the management of these resources,” she proposed.