Mining: abundant opportunity in a vibrant sector.

Position::MINING SECTOR
 
FREE EXCERPT

Industrial minerals are geological materials which are mined for their commercial value, They are not fuel (fuel minerals or mineral fuels) and are not sources of metals (metallic minerals). They are used in their natural state or after beneficiation either as raw materials or as additives in a wide range of applications.

Industrial minerals that are produced in Ghana include diamond, feldspar, granite, kaolin, limestone, dolomite, marble, gravels, salt, silica and cement.

[ILLUSTRATION OMITTED]

It is Government's policy to diversify the exploitation of its mineral resources base from the traditional minerals like gold, diamonds, bauxite and manganese to include the exploitation of industrial minerals which could promote effective linkages in the economy, to reduce current over reliance on imported substitutes.

The industry operates under the objectives of the National Mining and Minerals Policy. The core aim of the Mining and Minerals Policy is to "Conserve and sustain the development of the nation's mineral resources and the maintenance of the environment".

THE MARKET

Gold production in Ghana, Africa's largest producer of the metal, after South Africa, rose 3.5 percent to 1.46 million ounces during the first half of the year 2010. Revenue from sales of the precious metal during the six months rose 31 percent to US$1.68 billion.

Diamond production climbed 14 percent to 201,792 carats, while revenue from sales of the gems more than doubled to US$6.85 million.

Bauxite output during the six months of the year 2010 rose 9.7 percent to 301,489 metric tons, while earnings from sales of the raw material used to make aluminum jumped 41 percent to US$8.82 million,

Ghana and Senegal are the only countries with the most favourable coastlines for salt winning in the West African subregion, however, this advantage has not been exploited. Total production from these two countries remains low and continues to dwindle. Of the two countries Ghana has the best potential. Ghana has a potential solar salt production base for establishing a regional plant to produce basic chemicals such as caustic soda, chlorine, hydrogen, petrochemicals and other related products. Ghana is endowed with commercial quantities of common salt, which have not been fully exploited to effectively contribute to the country's economic growth. With the discovery of oil in commercial quantities, currently in excess of 300 million barrels of recoverable crude oil, the prospect for the salt industry...

To continue reading

REQUEST YOUR TRIAL