The 2025 Annual Survey of Mining Companies released by the Fraser Institute shows Ghana sliding to 53rd out of 68 jurisdictions on the Investment Attractiveness Index (IAI), down from 46th position in 2024. The country posted a score of 55.21, compared to 56.98 last year.
Within Africa, Ghana now ranks behind stronger-performing jurisdictions such as Botswana and Morocco, placing it in the continent’s middle tier for mining investment appeal. The drop signals that while Ghana remains a notable player in Africa’s mining landscape, it is losing momentum in the global contest for exploration capital.
The Investment Attractiveness Index blends mineral potential and policy perception, with investors assigning a 60 percent weight to geology and 40 percent to policy factors.
Ghana’s modest score suggests that regulatory uncertainty, taxation concerns, infrastructure gaps and land access issues may be tempering investor enthusiasm despite the country’s strong mineral endowment.
On the Policy Perception Index, Ghana ranked 50th globally with a score of 53.65, reinforcing perceptions of moderate — but not leading — policy competitiveness.
The survey, conducted between August and November 2025, drew responses from 256 mining executives representing firms with a combined exploration budget exceeding US$4.2 billion.
