Ghana has announced it will halt the export of all raw and unproccessed mineral ores by 2030, in a major reform to boost its economic sovereignty.
President John Mahama who made the announcement at the Accra Reset’s Addis Reckoning said all minerals including manganese ore and bauxite ore will be locally processed before export.
“I say by 2030, there won’t be any raw mineral ores leaving Ghana. You’re not going to ship raw manganese ore out of Ghana. You’re not going to ship raw bauxite ore out of Ghana. You’re not going to ship raw iron ore out of Ghana. You must process all that locally,” he stated.
Ghana is currently the world’s 48th‑largest exporter of ores among 173 countries. In 2024 alone, it exported $677 million worth of ores, slag, and ash, making these the country’s fourth‑largest export category.
Once the ban takes effect, Ghana will join a growing list of African nations, including Zimbabwe, Malawi, and Namibia, that have restricted the export of unprocessed minerals to encourage local value addition.
Speaking on the sidelines of the 39th African Union Assembly of Heads of State, President Mahama also detailed immediate steps Ghana is taking to rid itself from exploitative financing arrangements in the country’s cocoa sector.
John Mahama says Ghana will by 2030 purchase its cocoa using domestic currency.
“One of the key decisions we’ve made is to stop accepting foreign funding for the purchase of our cocoa. We are going to raise domestic bonds. We have enough Cedis in Ghana to pay for our cocoa,” Mahama said.
“You know what the collateral for the funding is? Our own cocoa beans. You collateralise the beans with the financier, buy them, ship them, and they pay you the international market price,” he explained.
By prioritising mineral processing and domestic financing for its third‑largest export earner, Ghana aims to strengthen its economic independence and retain more value from its natural resources.
