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...
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...
With recent years seeing major expansion in both generation capacity and grid connectivity, Ghana is now close to achieving a UN Sustainable Development Goal: universal access to electricity. Additionally, it has good solar and wind resources, which can be harnessed to shift the energy mix towards more renewable energy. The country is also...
International oil and gas prices dropped dramatically in early 2020 when countries around the world, including Ghana, enacted measures to curb the spread of Covid-19. While reduced activity saw demand for fuel drop, this was not the case for all industries. “Contrary to consumer patterns during the pandemic, essential industries such as...
Oil and gas exploration in Ghana has come a long way since the West Africa Oil and Fuel Company dug the country’s first documented discovery well, WAOFCO-2, in the Takanita concession in 1896. Located onshore in the Tano River Basin in western Ghana, the well was approximately 35 metres deep and produced 5 barrels per day (bpd).
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...
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