Ghana’s 2026 Budget Statement and Economic Policy have been presented and is awaiting approval and it introduces significant reforms that directly impact the mining and exploration sector. For mining companies, investors, and exploration firms, these developments open new pathways for growth and collaboration.
One of the most impactful announcements is the abolishment of the 15% VAT on mineral exploration. This major relief is expected to reduce operational costs, attract new exploration investments, and boost early-stage project development across the country.
The budget also proposes an increase in the Growth & Sustainability Levy (GSL) for mining companies from 1% to 3%, with an extended sunset clause to 2028. This offers medium-term fiscal clarity while strengthening government revenue mobilization.
Additionally, proposed amendments to the Minerals Income Investment Fund (MIIF) Act would channel 80% of mineral royalties directly into the Consolidated Fund — a strategic shift aimed at enhancing public development financing and improving revenue governance.
For small-scale miners, the removal of the 1.5% withholding tax on unprocessed gold reflects the government’s continued efforts to support formalization and increase transparency across the sector.
Overall, these reforms signal Ghana’s commitment to creating a more competitive, investor-friendly mining environment while ensuring responsible resource management.
If you’re looking to navigate this evolving landscape, optimize compliance, or unlock new project opportunities, Geominerals and Investment Consult (GICC) is ready to guide you every step of the way. Let’s help you achieve long-term success in Ghana’s dynamic mining industry.