Asantehene, Otumfuo Osei Tutu II, has called on the government to give priority to Ghanaian companies in the allocation of mining concessions, arguing that local ownership is critical to strengthening the domestic economy and empowering citizens.

Speaking on Friday during a stakeholder engagement with the Ministry of Lands and Natural Resources and the Minerals Commission in Kumasi, the king of the Ashanti Kingdom urged authorities to amend current mining practices, which he said too often favor foreign firms. The session formed part of consultations around a proposed review of the Minerals and Mining Act, 2006 (Act 703).

“We need to prioritise Ghanaians in the allocation of mining concessions,” Otumfuo said. “If they later choose to partner with foreign investors, that should be their decision. This approach will strengthen the local currency.”

The monarch also encouraged domestic concession holders to list on the local stock exchange to raise capital, suggesting such a move would expand wealth-building opportunities for ordinary Ghanaians.

“Don’t our young people also deserve the opportunity to invest in the stock market and earn returns?” he asked.

Otumfuo clarified that the Minerals Commission has operated within the legal limits of its mandate and that chiefs’ roles remain custodial in nature. Under Ghana’s Constitution, mineral resources are vested in the state, and any change to this arrangement would require constitutional reform.

“The Minerals Commission is acting within the confines of the law,” he said. “If there is to be a shift in how minerals are managed, it must be addressed through the Constitutional Review Committee.”

The review of the mining law is part of broader efforts by the government to improve governance in the extractive sector and increase the involvement of traditional authorities in resource management. Ghana is Africa’s leading gold producer and a significant source of other minerals including bauxite and manganese.