The CEO of the Ghana Chamber of Mines, Sulemanu Koney, has warned that international investors may soon withdraw their investments from Ghana's mining sector if the country fails to address the growing menace of illegal mining, known as galamsey.

Speaking on PM Express Business Edition, Mr. Koney emphasized that solutions to the galamsey crisis are within reach but require strong political will and sustained effort. He outlined a path toward eradicating illegal mining in Ghana, focusing on collaboration and effective policy enforcement.

Mr. Koney underscored the need to segment the mining sector to address the distinct challenges faced by small-scale and large-scale miners.

"As a student of marketing, I trust in segmentation. You have a problem, segment the problem," he advised, adding that tailored solutions are essential for each sector.

“Let’s look at small-scale mining, help them with proper, effective regulation, and provide technical support where necessary,” he continued.

Mr. Koney also called on the government and stakeholders to provide small-scale miners with the necessary training and resources to comply with regulations, citing lack of technical expertise as one of the root causes of illegal practices.

“We need to know who is in charge of the small-scale mining operations, and we need technical experts approved by the Minerals Commission to assist with regulation,” he said.

Despite the challenges, Mr. Koney remains optimistic, expressing confidence that with the right political will and commitment from all stakeholders—including traditional authorities and business leaders—Ghana can finally put an end to the galamsey issue.

“If we mean well as a state, as a country, we can handle this. The solutions are very close to us,” he asserted. “We need to be on the ground and make sure what is right is right, and what is wrong is wrong.”

Mr. Koney also expressed concerns about the long-term effects of galamsey on the environment and Ghana’s international reputation. He cautioned that without stricter measures, environmentally conscious investors in large-scale mining companies may soon withdraw their funds.

“Very soon, investors in large-scale mining companies who are green-conscious may pull their funds if we don’t show that we are serious about sustainability,” he warned.

He called for a holistic approach to solving the illegal mining problem, advocating for increased indigenous capital for small-scale mining through exploration and investment, contingent on effective regulation.