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In 2023, Ghana produced around 4.2 million ounces of gold, contributing to approximately 4% of the world’s total output. The main gold-producing regions are Ashanti, Western, and Eastern regions, with major players including Newmont, Gold Fields, AngloGold Ashanti, and Kinross Gold. Gold exports in 2022 accounted for about 12.3% of Ghana's GDP.
In August 2022, accelerating inflation and continued economic mismanagement has caused the cedi's value to drop to 10 U.S. cents (GH₵10 = US$1). [10] As of September 2022 [update] , the annual inflation rate of 37.2% as reported by the Ghana Statistical Service was the highest since 2001.
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [28] The country is also the second-largest cocoa producer (after Ivory Coast). [29] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
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Ongoing — COVID-19 pandemic in Ghana 20 January – A truck carrying explosives to a gold mine explodes after crashing into a motorcycle in Apiate , Western Region ; the explosion destroyed nearby buildings and vehicles, killing 17 people and injuring 59 others.
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In February 2022, Africanews reported that Maxam Ghana had agreed to pay a $6 million fine for "breaches regarding the manufacture, storage, and transportation of explosives". Conditions were also set by the Lands minister , Samuel Abu Jinapor that Maxam must meet before their operating permit was restored. [ 17 ]
E-levy has been passed by parliament and will take effect from 1st May, 2022. Despite the passage of e-levy, the minority in Ghana's parliament are set to challenge it, at the supreme court. According to them the passage of e-levy is illegal because parliament lacked the required numbers to do so. [28] [29]