Ghana Business reported that Ghana’s mining sector is expected to reach a value of USD 1.83 billion in 2016.
The Report by Research Company Research and Markets said that the sector will increase from USD 1.21 billion in 2010 as bauxite and gold production see substantial increases. This marks a significant break from the past decade where the mining sector value has barely risen as gold output has declined, offsetting much of the increases in price. We expect gold to be the main driver of growth but bauxite to play a growing role in the mining sector over the coming years.
Ghana contains the second largest area of gold deposits in the African region after South Africa adding that the nation derives the bulk of its external revenue from gold mining which accounts for over 90% of Ghana’s total mineral exports.
The Report said that apart from gold, Ghana also produces significant quantities of bauxite, manganese and diamonds, although diamond output has been affected in recent years by the closure of Ghana Consolidated Diamonds in 2007.
Mike Hammah Ghana’s Minister of Lands and Natural Resources said that mining has contributed 27.6% to total government revenue and 42% of total merchandise exports in 2011.
Source:
http://www.steelguru.com/metals_news/Ghana_mining_sector_to_be_worth_USD_2_billion_in_2016/293073.html
