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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.
The government is seeking to internalise bauxite mining and aluminium smelting and production in Ghana, with new mines and plant updates. [ 8 ] Industry media suggests in 2023 that despite retaining 750 workers the plant is aging, requiring at least US$600m of investment, to bring production up to 300,000 tpa.
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.
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 ]
Industry in Ghana accounts for about 24.5% of total GDP. [1] However, Ghana's industrial production is rising at a 7.8% rate, giving it the 38th fastest growing industrial production in the world [ 2 ] due to government industrialization policies.
This institution was the precursor to the Ghana Chamber of Mines. [4] [5] Following Ghana's independence on 6 March 1957, the name of the Chamber was changed to the Ghana Chamber of Mines to reflect the nation's new status. The Chamber underwent several transformations, including a special resolution on 6 May 1960, which altered its form and ...
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.
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.