Mining

Mining and quarrying contributed 9.8% of Ghana’s GDP in 2013, up from 9.5% in 2012, according to the Ghana Chamber of Mines (GCM), the main industry association. Nevertheless, the sector had a subdued year in 2013 and was affected by a range of factors that hit the industry globally. So important is mining to Ghana’s economy that its slower performance fed through to lower GDP growth. Total revenue from minerals slid 12% to $4.79bn in 2013 from $5.45bn in 2012, led by the biggest slump in the price of Ghanaian gold in 30 years, according to the GCM. Although Ghana faces increasing competition from other countries in the region, its long history of mining, abundant resources, and security and stability remain significant competitive advantages. 

This chapter contains interviews with Nii Osah Mills, Minister of Lands and Natural Resources; and Johan Ferreira, Regional Senior Vice-President and Head, Newmont Africa, and President, Ghana Chamber of Mines.