Mining
From The Report: Ghana 2020
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Rising commodity prices and vast untapped reserves have boosted interest in Ghana’s mining sector. As production continues along an upward trajectory, government policy aims to leverage the mineral wealth by building up refining capacity, introducing new legal frameworks, and attracting private sector partners to support the development of infrastructure and local industry. Mining has grown steadily, driven by stable commodity prices and increased global demand. As output improves, the government looks set to continue attracting private sector partners to build refining capacity for the large bauxite and gold reserves. New legal frameworks and institutions have been set in motion to support the sector and tighter government regulations are boosting revenue. Such initiatives are creating an attractive investment environment, promoting long-term growth and supporting the establishment of value-added industries. This chapter also contains interviews with Sulemanu Koney, CEO, Ghana Chamber of Mines; and Nick Holland, CEO and Executive Director, Gold Fields.

Articles from this Chapter

Overview

Rock solid: Increased commodity prices, growing global demand and government policy push up production figures
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Rising commodity prices and the promise of vast untapped reserves have led to increased interest in Ghana’s mining sector. As production continues along an upward trajectory, government policy aims to leverage the country’s mineral wealth by building up its refining capacity, introducing new legal frameworks, and attracting private sector partners to support the development of infrastructure and local industry. Structure & Oversight Gold production remains the core of Ghana’s…

Analysis

Going for gold: Multiple factors bode well for gold output, as the government prepares to open a new refinery
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In 2018 Ghana overtook South Africa to become the top gold producer in Africa. According to the Ghana Chamber of Mines, total production increased by 11.9% in 2018, from 4.3m oz in 2017 to some 4.8m oz, with gains in output expected to continue beyond 2019. Global credit ratings agency Fitch also ranked Ghana’s mining sector first in Africa – ahead of both Botswana and South Africa – on its Risk Reward Index, which compares industry rewards and risk against others in the region. Fitch…

Interview

Sensible approach: Sulemanu Koney, CEO, Ghana Chamber of Mines, on sustainable mining practices and expense moderation
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Interview:Sulemanu Koney In what ways have sustainable mining practices evolved among small-scale mining operators? SULEMANU KONEY: The government has taken the issue of small-scale mining quite seriously and has made significant progress in addressing environmental damage. Since the ban on small-scale mining, there has been a determined effort to identify harmful practices and find ways to address them. Between the banning of small-scale mining and the subsequent lifting of the ban, a detailed…

Overview

Time to evolve: Efficiency and safety in the mining industry is catching up to other sectors with the help of digitalisation
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Companies in the mining sector have traditionally been slow to adopt new technologies due to the scale and complexity of their operations, as well as the hefty costs that come with change. The uptake of digital tools and solutions has consequently been limited. However, challenging market conditions – driven by weak global demand for certain minerals and persistent excess capacity – are pushing mining companies towards digitalisation. Fourth Industrial Revolution technologies such as large-scale automation, artificial intelligence (AI) and virtual reality (VR) are increasingly being adopted as solutions to sector-wide problems including…

Interview

Depth of potential: Nick Holland, CEO and Executive Director, Gold Fields, on the need to increase exploration for ore and boost the capitalisation of well-established mining sites
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Interview:Nick Holland How can stakeholders collaborate to ensure the sustainability of operations in mature mines? NICK HOLLAND: Globally, we believe that the industry has been undercapitalised for an extended period, particularly over the past two decades. It has underspent on exploration, as well as cut spending on sustaining and growing capital. For a long time the mining sector has been struggling to sort out its profitability and debt issues; now the question is at what price this has…