Mining future hinges on regulatory clarity, competitiveness – Dr. Kuupol Kuutor

By Kizito CUDJOE

The future of the country’s mining sector may ultimately be determined less by what lies beneath the ground and more by the strength and clarity of the laws governing it, Dr. Catherine Kuupol Kuutor, Manager of Gold Fields Ghana Limited (Tarkwa Mine), has warned.

Amid intensifying global competition for mining capital and persistent concerns that Ghana is not extracting maximum value from its mineral wealth, she argued that the country must urgently recalibrate its regulatory framework to strike a careful balance between national benefit and investor attractiveness.

“If we are able to carefully assess what we want as a country and translate that into clear and balanced laws, then we can position the industry in a way that benefits both the country and investors,” she said in an interview with the Business & Financial Times.

Dr. Kuupol Kuutor, the country’s first female Manager of a mine, noted that while Ghana remains one of Africa’s leading mining destinations, perceptions persist that the state is not receiving optimal returns from the sector.

The challenge, she indicated, lies not only in identifying these gaps but in responding to them in a way that reflects current realities in a highly competitive global industry.

“The key question is: what do we need to do differently to achieve the best outcomes?” she asked, urging policymakers to reassess existing frameworks in light of evolving industry dynamics and international benchmarks.

Central to this debate are ongoing discussions about mineral royalties, which have recently exposed tensions between government revenue ambitions and industry concerns about competitiveness.

According to her, earlier government proposals triggered strong reactions from mining companies, which warned that aspects of the framework, if implemented in their original form, could undermine the viability of operations in Ghana.

Such warnings, she explained, should not be interpreted as resistance to regulation, but rather as signals of shifting investment preferences in a global market where capital is highly mobile.

“When companies say such policies could ‘kill the business’, it does not mean mining will stop globally. It simply means Ghana risks becoming less competitive, prompting investors to consider other jurisdictions with more predictable or flexible operating environments,” she said.

Through the Ghana Chamber of Mines, industry players have since engaged the government with counterproposals, arguing that some measures exceed global benchmarks and could erode the country’s attractiveness as a mining destination.

Dr. Kuupol Kuutor emphasised that such engagements are critical to achieving balanced outcomes, noting that effective policymaking must be anchored in consultation, transparency and a clear understanding of how the country compares with peer jurisdictions.

In her view, the sector’s future will be defined by how well this balance is managed, through policies that secure greater value for the state without compromising the investment climate needed to sustain growth.

“If we continue relying on old frameworks while making adjustments that do not reflect current realities, there will always be some level of tension or uncertainty in the sector,” she cautioned.

Beyond policy, she emphasised the role of mining companies in ensuring that value is realised through strict compliance and responsible operations.

Operating under the oversight of the Minerals Commission, she said Gold Fields remains committed to adhering to all regulatory requirements, describing compliance as a fundamental obligation for any company in the sector.

She further noted that the state’s equity participation in mining operations reinforces the shared interest in ensuring their success, making it imperative for companies to operate transparently and within the established legal framework.

In addition, she pointed to sustained investments in corporate social responsibility, including legacy projects in host communities aimed at supporting development and improving livelihoods.

Ultimately, she stressed that while compliance and community investment are essential, the long-term performance of the sector will depend on a regulatory regime that is effectively enforced and aligned with global standards, ensuring the industry remains competitive and secures fair value from its resources.

Dr. Kuupol Kuutor, Manager of Gold Fields Ghana Limited – Tarkwa Mine

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