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Mining industry

Ghana's Mining Sector: A Key Driver of Sustainable Growth

Strategic Insights

— 1 min read

Ghana's Western Regional Minister, Joseph Nelson, underscored the importance of aligning mineral extraction with value addition, local content participation, environmental stewardship, and community development at the 20th CII India-Africa Business Conclave in New Delhi, India. The minister emphasized Ghana's commitment to a green transition and sustainable future, highlighting the mining sector's significant contribution to the country's economy. The sector's performance exceeded expectations, with estimated contributions of GH?11.7 billion in 2023 and GH?17.7 billion in 2024 to the Gross Domestic Product. The mining sector's share of government revenue also increased, reaching 8.6% in 2023 and 9.5% in 2024.

Key Takeaways:

  • Ghana's mining sector contributed an estimated GH?11.7 billion to the Gross Domestic Product in 2023 and GH?17.7 billion in 2024.
  • The total share of the mining sector to Government's total revenue was 8.6% and 9.5% in 2023 and 2024 respectively.
  • Ghana occupies the 6th position globally and number one in Africa as one of the top producers of gold.
  • The Republic of Ghana is actively working to fully explore its hydrocarbon potentials, particularly natural gas, to achieve a sustainable energy mix.
  • Minister Joseph Nelson emphasized the importance of reliable, sustainable, and affordable energy requirements for the mining sector.
  • Ghana is committed to private sector participation in providing cheaper and greener energy sources to drive growth in the mining sector.
  • The country aims to leverage its resource potential for mutual and sustainable benefits through partnerships and alliances with Indian businesses and governments.
  • Ghana's mining sector has the potential to drive the green transition globally and transform the country's economy locally.

Statistics:

  • Ghana's mining sector contributed Gh?11.7 billion to the Gross Domestic Product in 2023.
  • The sector's contribution increased to Gh?17.7 billion in 2024.
  • The mining sector's share of government revenue reached 8.6% in 2023 and 9.5% in 2024.
  • Ghana occupies the 6th position globally and number one in Africa as one of the top producers of gold.
  • The country's mining sector is valued at an estimated GH?11.7 billion.

Sources:

  • Ghana Western Regional Minister, Joseph Nelson, at the 20th CII India-Africa Business Conclave in New Delhi, India (no date provided).
  • Ministry of Information (2024) for the estimated contributions of the mining sector to the Gross Domestic Product and government revenue.

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