INTRODUCTION TO Ghana

Ghana located in West Africa lies on the Gulf of Guinea in between Togo and Côte d’Ivoire.

Ghana is host to large quantities of natural resources but like other West African countries is best known for its gold resources as it is one of the world’s leading gold producers and the second largest producer in Africa. In addition to gold, Ghana also has significant production quantities of bauxite, diamonds and manganese. Its major sources of foreign exchange are gold, timber and cocoa.

Despite the availability of natural resources, the mining industry has faced great challenges such as restricted electricity supply and high energy costs, in spite of these set backs the interest in the gold sector continues to grow.

INVESTMENT OPPORTUNITIES

Ghana remains an attractive destination for mining and related investment in Africa for a number of reasons, including political stability, the availability of geological data and a promising investment climate.

Ghana boasts almost two decades of multi-party democracy. This has been lauded internationally, and the country continues to mature in its democratic principles. The result has been major national economic gains over the years.

For the first time in its history Ghana has available to it, high-resolution airborne data, made up of magnetic and radiometric information, covering the whole country is now available. Some areas have also been covered with gravity and electromagnetic (time-domain) surveys, the data of which is also available. On the basis of recent geological information on the country, an updated geological map covering the whole country has been developed.

EXPLORATION POTENTIAL

The recently completed Mining Sector Support Programme, funded by the European Commission, has led to the discovery of minerals apart from the traditional Ghanaian minerals, namely gold, diamond, manganese and bauxite.

These new occurrences include phosphate, nickel, chromium and uranium. The discovery of these minerals heralds new opportunities in the country’s mining industry. Investment is therefore abundant in the fields of mineral exploration and mining for a variety of minerals.

LATEST NEWS

More News >>

COMPANIES MINING IN Ghana


LEGISLATION & MINING POLICY OVERVIEW

Ghana has a favourable investment climate, due to an attractive legal and fiscal regime that is in accordance with the international best practices. This is evidenced by the number of major multi-national companies investing in the country.

Government has created a stable regulatory environment that provides for transparent and fair treatment of all investors.

Ghana’S ECONOMY

In 2009, the mineral sector contributed 7% of Ghana’s total corporate tax earnings, 45% of total export revenues, 19.8% of Government revenues and 6% of GDP.

Large-scale mining and the mine support sub-sector employs about 27 0000 people, whilst an estimated 500 000 people are engaged in the small-scale mining industries.

Total Foreign Direct Investments (FDI) into the minerals and mining sector, from 1984 to 2009 amounts to some UD$10 billion.