Mining

Vast mineral resources have served as a primary driver of Ghanaian economic growth in recent decades, and 2012 was another banner year for the mining industry. Ghana was the world’s eighth-largest producer of gold in 2012. At the same time, production of bauxite, a key aluminium property, increased, while deposits of diamonds and manganese continued to attract international investment. Overall, mine production was reported by the Ghana Chamber of Mines to have grown by 23.5% in 2012, above the 18.8% rise posted in 2011. This translated into a 14% increase in total revenues year-on-year. However, limited port and rail facilities are beginning to pose a challenge for the industry, which is being forced to rely on less-than-ideal options for transporting equipment and mineral output. Efforts are under way to develop the supply chain and create new downstream manufacturing capacity, but progress is gradual. It is highly likely that mining output will slow as the market for gold flags. This chapter contains interviews with Alhaji Inusah Fuseini, Minister of Lands and Natural Resources; and Toni Aubynn, CEO, Ghana Chamber of Mines.