Mining in Ghana

Deep Insights.

The mining industry of Ghana accounts for 5% of the country’s GDP and minerals make up over 37% of total exports of which gold contributes over 90% of the total mineral exports. Thus, gold remains the focus of Ghana’s mining and minerals development industry. Ghana has twenty-three large scale mining companies and over three-hundred registered small-scale mining groups and ninety mine support service companies.

Gold trading in Ghana began from ancient history in the Trans-Saharan gold trade and the country was once known as Gold Coast. With gold export bringing in about 48% of Ghana’s revenue through mineral royalties, employee income taxes, and corporate taxes, it is an area of high national interest. Gold is popular as an investment and investors buy gold as a means of diversifying risk; especially through the use of future contracts and derivatives.

The gold market is volatile; that is, liable to change and as such finding a trend keeps one in the lead. A considerable amount of resources will have to be allocated to looking into the foreign market and modifying the products to meet demand and regulations.