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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 ]
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.
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.
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.
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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.
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The second-largest mineral industry in the world is the mineral industry of Africa, which implies large quantities of resources due to Africa being the second largest continent, with 30.37 million square kilometres of land.With a population of 1.4 billion living there, mineral exploration and production constitute significant parts of their economies for many African countries and remain keys ...