Old Mining Cartel Will Fight Mahama’s Reforms – Otumfuo Warns

Those who made big money from Ghana’s old mining system will try to block President John Mahama’s new reforms.

That is the strong warning from the Asantehene, Otumfuo Osei Tutu II.

He gave the warning at the African Minerals Policy Centre’s 2026 Mining in Motion forum in Accra. The forum is happening from October 19 to 21, 2026. 

The event is organized by the Ashanti Green Initiative under the leadership and patronage of the Ashanti Royal Family, with the Government of Ghana as a principal partner. Otumfuo is the patron of the forum. 

Speaking at the forum, Otumfuo said Ghana must stop exporting its gold and other minerals in raw form.

For many years, Ghana has been Africa’s top gold producer but the country remains poor because it does not add value to its minerals. He said President Mahama’s reset agenda is trying to change that.

• Processing minerals in Ghana instead of shipping them raw

• Setting up the Ghana Gold Board (GoldBod) to buy and control gold exports

• Moving from owner mining to contract mining by Ghanaian companies

• Creating more jobs for young people 

Otumfuo said this plan is similar to what Dr. Kwame Nkrumah tried to do – putting minerals under state control and building local refineries.

He openly backed the reforms, saying Mahama’s mineral agenda could help break the cycle of poverty. The strategy to process Ghana’s minerals locally is a necessary move toward real economic transformation. 

The Asantehene warned that change will not be easy.

According to a news graphic from the forum, he said: “Those who benefited from Ghana’s old mining system may resist Pres. Mahama’s new reforms.”

Many people, companies and powerful groups made huge profits from the old system. That system allowed raw export, weak regulation, and galamsey (illegal mining). They will not want to lose their benefits.

The comment has already caused debate on social media, with many Ghanaians saying the warning is directed at those who profited under the old way of doing things.

Otumfuo’s message was clear: If Ghana wants to be rich, it must keep the value of its minerals at home.

He said Ghana must process its minerals locally to end poverty and transform the economy. 

The Mining in Motion forum brought together President Mahama, Liberia’s leaders, ministers, investors and traditional leaders under the theme “One Continent, One Voice on Minerals” to discuss how Africa can keep more wealth from its own resources. 

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