Mining
From The Report: Ghana 2022
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Mining is a key component of Ghana’s national economy; the country is Africa’s largest gold producer. The Covid-19 pandemic highlighted the mineral’s prominent role, as gold is seen as a safe investment during uncertain times. While the mining sector faces challenges in terms of modernising practices, diversification efforts are forging ahead. Industrial minerals including bauxite and manganese have received significant amounts of foreign investment in recent years. Despite uncertainty over the trajectory of the pandemic, there is widespread hope that 2022 and 2023 will see mining activity pick up, with both supply and demand increasing as the world moves towards a recovery. In particular, demand from countries such as China is likely to keep rising in the years ahead, further supporting expansion.

This chapter contains an interview with Douglas MacQuarrie, President and CEO, Asante Gold.

Articles from this Chapter

Overview

Solid foundations: Expansion is forecast for industrial minerals and lithium as the government targets value-added activities
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Mining is a key component both of Ghana’s national economy and the global extraction industry. The country overtook South Africa as the continent’s largest gold producer in 2018 and has held the title since. The Covid-19 pandemic highlighted the mineral’s prominent role, as gold is seen as a safe investment during uncertain times. Although hampered by the pandemic’s impact on daily mining operations, demand for the resource helped ameliorate the declines in oil and gas prices during the initial…

Analysis

Better practices: Initiatives rolled out to support community mining in line with government efforts to formalise small-scale activities
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Artisanal and small-scale mining (ASM) is a major driver of the economy, directly employing an estimated 1m Ghanaians and supporting around 4.5m others. ASM – categorised by concessions of under 4000 sq metres – has accounted for around onethird of the country’s total gold output in recent years. “Almost all the jewellery worn in Ghana is manufactured with gold coming from ASM,” Frank Boateng, vice-dean in the office of research, innovation and consultancy at Ghana’s University of Mines…

Interview

Competitive drive: Douglas MacQuarrie, President and CEO, Asante Gold, on the scope for technological transformation and sustainability
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Interview: Douglas Macquarrie What challenges does the Ghanaian mining sector face when it comes to encouraging development and attracting investment? DOUGLAS MACQUARRIE: Mining is an important contributor to Ghana’s GDP and accounts for the largest portion of the country’s exports by value, at nearly 50%. As such, continuing to strengthen the sector will create jobs and have wider economic benefits. Progress has been made to digitalise many of the operations within the Minerals Commission…