Mineral policies and the Ghanaian economy

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This study is a case study of the existing Minerals and Mining Law in Ghana and how it practically works. The law is analysed on its impact on macroeconomics in terms of share of GDP, share of exports and share of tax payments. The prevailing situation in Ghana is due to regulations in the mining law and some of the negative aspects of mining can be traced to the fiscal framework. The study also intends to analyse how a new mining law addresses the existing problems. A new law will be enacted during 2002 in order to deal with negative aspects of the mining sector and modernize the fiscal framework to provide a foundation for further development in Ghana. The study shows how the existing mining law fails in several aspects to capture revenues from the mining sector and the new law does not seem to address the problems in a satisfying way. Ghana will continue to have a mining sector that is independent in sever...