Mining companies operate on a global scale, undertaking long-term projects that require navigating complex layers of agreements and governance at international, national, and subnational levels. While geopolitical and governance risks at the national and international levels dominate discourse, subnational dynamics—such as traditional leadership, local power structures, and land rights—are often overlooked. These local actors and governance systems play a critical role in granting access to resources and maintaining social acceptance, yet they remain marginalised in conventional risk assessments focused on legal, regulatory, and national political stability.

This study, drawn from reflections from the Columbia Center on Sustainable Investment’s Executive Program and field experiences in Ghana and other African contexts, explores how mining companies engage with subnational political dynamics to manage risk and sustain operations. It argues that early and inclusive engagement with local stakeholders, ongoing stakeholder mapping, and alignment of national agreements with local priorities are essential for mitigating operational and reputational risks. By adopting proactive strategies—such as transparent communication, capacity building, and partnerships for shared value—extractive companies can foster trust, minimize conflict, and ensure long-term sustainability. The research underscores the need for multi-stakeholder collaboration as a basis for achieving shared benefits and resilient investments in the extractive sector.