Exclusive: Ghana Directs Newmont, AngloGold, Zijin to Shift Mining Ops to Local Firms by December, Sources Say

Ghana, Africa's leading gold producer, is intensifying its efforts to maximize revenue from its rich mineral resources by enforcing stricter local content regulations in the mining sector. The Minerals Commission has issued a firm directive to major international mining companies—Newmont, AngloGold Ashanti, and Chinese-owned Zijin—mandating a shift to local contractors for their operations by the end of 2026.

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Ghana's mining regulator has given international companies Newmont, AngloGold Ashanti and Chinese-owned Zijin until December 2026 to shift mining operations over to local contractors or face sanctions, according to five sources with direct knowledge of the matter and documents.

This directive is a crucial step in Ghana's strategy to ensure greater participation and benefit for Ghanaian businesses and citizens within the lucrative mining industry. The revised ownership rules, implemented in January 2025, stipulate that surface mining must be conducted exclusively by Ghanaian-owned firms, while underground mining operations require a minimum of 50% Ghanaian ownership. This policy aims to foster domestic capacity and retain a larger share of the mining value chain within the country.

While many large-scale mining firms have already adapted to these new requirements, Newmont and AngloGold Ashanti had reportedly sought extensions. However, regulators have stood firm, rejecting these requests and pointing to the successful compliance of other publicly listed miners, such as Gold Fields. This firm stance underscores Ghana's commitment to its local content agenda, signaling that the era of international companies solely relying on their own staff for all operations is drawing to a close.

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Newmont's compliance was discussed during meetings this month in Accra between its global CEO, Natascha Viljoen, and the Minerals Commission after the company again sought an extension, the government sources said.

From a Ghanaian perspective, this move is not merely about regulatory compliance; it represents a significant assertion of economic sovereignty. We see it as a necessary measure to ensure that the wealth generated from our natural resources directly benefits our nation and its people. The government's determination to enforce these rules, despite potential pushback from international corporations, reflects a broader trend across African nations seeking to gain more control over their extractive industries and ensure equitable distribution of profits. This policy is vital for building a more robust and self-sufficient Ghanaian economy.

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But regulators rejected that request, noting that other listed miners, including Gold Fields, had already complied, the official said.