Recent developments in the Ghanaian mining industry have opened up opportunities for METS organisations, making it a fortuitous time to join Austrade and Austmine’s mission to Ghana, Africa’s second largest gold producer, from 13–17 November.
During this mission, delegates will have the opportunity to undertake three mine site visits and meet key representatives from Gold Fields, AngloGold Ashanti and Newmont.
Newmont Ghana’s announcement that it had awarded African Underground Mining Services the Subika underground mining contract with an estimated value of US$280 million, is an example of developments in the Ghanaian mining sector that is attracting the interest of METS organisations.
“Ghana has an extensive mining history and some of the world’s largest gold companies operate in Ghana,’ says Brendan Coyne, Austrade Trade Commissioner, West Africa.
“The level of expertise in the Ghanaian mining industry is high, and many Ghanaians and local businesses are familiar with developments in the mining sector and the capabilities of the Australian METS sector.”
Coyne says Australian METS organisations looking to do business in Ghana should have leading technology in their field and be able to demonstrate where this technology has been applied and the benefits it has produced.
“Areas where interest exist in new technology include, but are not limited to, automation and remote control, communications, safety, processing and water treatment,” says Coyne.
Ghana’s mining industry accounts for five per cent of the country’s GDP, with gold dominating the sector. Ghana is Africa’s second largest producer of gold and the 10th largest in the world.
According to the Ghanaian Chamber of Mines, gold production from member companies was approximately 2.5 million ounces in 2016. Production and purchases of gold through its members was approximately 4.1 million ounces in 2016, up from approximately 2.5 million ounces in 2015.
The Chamber also reported that member organisations spent approximately US$1 billion on purchasing goods and services in-country in 2016, up from approximately US$865 million in 2015. Approximately US$200 million was spent on imported consumables in 2015.
Global gold companies operating in Ghana include Newmont Mining, which has the Akyem and Ahafo mines; Gold Fields, which has the Tarkwa and Damang mines; and AngloGold Ashanti, which has the Iduapriem mine. Other mining organisations that have producing mines include, Asanko, Chirano, Golden Star and Perseus Mining.