Mining
From The Report: Ghana 2017
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With prices on stronger ground in global markets, mining companies are starting to display renewed interest in gold projects. In Ghana this precious metal represents more than 80% of mining activities, and an uptick in gold prices has led to a flurry of activity, with companies signing agreements, initiating production and seeking land for exploration. While a raft of fiscal changes aimed at increasing mining tax revenue have been introduced in recent years, the government has also sought to address sector challenges and ensure attractive investment conditions while promoting the development of sustainable mining. The implementation of the Minerals and Mining Policy will be key to strengthening the sector’s role in the economy.

This chapter contains an interview with Sulemanu Koney, CEO, Ghana Chamber of Mines.

Articles from this Chapter

Overview

Digging deep: The government is taking steps to address a recent decline
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With prices on stronger ground in global markets, mining companies are starting to display renewed interest in gold mining. In Ghana, this precious metal represents more than 80% of mining activities, and an uptick in gold prices has led to flurry of activity, with companies signing agreements, initiating production and seeking land for exploration. While a raft of fiscal changes aimed at increasing mining tax revenue have been introduced in recent years, the government has also sought to…

Analysis

Midas touch: New waves of production and investment in gold mines are improving the outlook for the sector
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The launch of gold production at several new mining sites and a recovery in gold prices appear to be offsetting a trend towards decline in Ghana’s gold production and revenue, while ongoing exploration backed by greenfield investments is signalling further untapped potential in the country’s gold mining. These developments, along with the government’s efforts to tackle sector challenges, are producing confidence about the outlook for gold mining. Offsetting Tendency Ghana’s gold…

Analysis

Above board: The modernisation of small-scale mining (SSM) provides opportunities for sector growth and increased tax revenues
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Following a lengthy process that included various stakeholder consultations and independent reviews, Ghana adopted a Minerals and Mining Policy in February 2016. The policy provides a comprehensive framework for sector governance, seeking to ensure it works as a catalyst for economic growth and contributes to sustainable development. A key component of this policy is the modernisation of SSM, which aims to stimulate employment and investment opportunities while increasing government revenues. It…

Interview

Robust reforms: Sulemanu Koney, CEO, Ghana Chamber of Mines, on remaining a mining investment destination
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Interview:Sulemanu Koney What benefits will result from the formalisation of small-scale mining (SSM)? SULEMANU KONEY: The SSM segment is an important source of employment for a significant proportion of the local work force. With respect to employment statistics, the Minerals Commission (MC) – the sector regulator – has emphasised that there are over 1m jobs in the sector, which is quite significant in a country with a population of more than 25m. These job numbers are critical to the…