President John Dramani Mahama has called on African countries to strengthen cooperation in the management and processing of their mineral resources to ensure the continent retains a greater share of the wealth generated from its natural resources.
He said poor negotiations and the award of large mineral concessions to foreign interests had left African countries with only a small share of the wealth extracted from their soils.
Speaking at the opening of the 2026 Mining in Motion Summit, President Mahama said the situation had contributed to financial outflows from the continent, while many African countries and their communities continued to experience poverty.
He stressed the need for African leaders to adopt a common approach to mineral negotiations, share information and expertise, and strengthen their collective bargaining position when dealing with international mining companies.
President Mahama cited an experience from his previous tenure as President, when a leader from another West African country contacted him over royalty rates being demanded by a mining company seeking to invest in that country.
He said Ghana had issued stability agreements for two mining companies that capped royalties at 30 per cent, while the company negotiating with the neighbouring country was seeking a royalty rate of 10 per cent.
According to him, the company had indicated that it would move its investment to Ghana if the neighbouring country insisted on charging 10 per cent.
President Mahama said the experience demonstrated the importance of African countries sharing information to avoid competition that could weaken their negotiating positions.
“This demonstrates the need for us to share information and expertise to ensure that more of the value remains on our continent,” he said.
He called for closer cooperation among African countries on fair taxation, responsible mining and meaningful local participation, warning against agreements that create divisions among countries and undermine their collective interests.
The President also urged African governments to prioritise domestic mineral processing and manufacturing instead of continuing to export raw ores and import finished products.
He said African mineral resources should support industries producing electric vehicle batteries, electric cables, transformers, finished aluminium products, rare-earth magnets and other value-added goods.
President Mahama noted that frameworks such as Agenda 2063, the African Mining Vision and the African Continental Free Trade Area provided opportunities for countries to coordinate investments, develop regional infrastructure and expand markets for African producers.
He also called for the strengthening of the African Minerals Development Centre through dependable funding, technical expertise and greater cooperation among member states.
President Mahama maintained that Africa’s mineral wealth must support industrialisation, create skilled jobs and improve the living conditions of people across the continent.
He urged foreign investors to partner with African enterprises by providing capital, expertise and technology to build competitive industries within Africa.
