Raw Materials & Mining

Gold and mining

Mining and oil & gas are two important pillars of the Ghanaian economy. Gold mining is dominated by large international companies including Goldfields, Newmont, and South African AngloGold Ashanti. In March 2023, Gold Fields and AngloGold Ashanti announced plans to merge their neighbouring Tarkwa and Iduapriem mines under a new joint venture creating the largest gold mine in Africa and one of the largest in the world.

Through these investments, Ghana has developed into the West African hub for many service providers in the mining sector.

Lithium : West Africa first mover

Ghana is on course to become West Africa's first lithium-producing country. Atlantic Lithium's flagship project, the Ewoyaa Lithium Project, was set in November 2021 to be West Africa's first lithium-producing mine and is fully funded to production through a partnership with Piedmont Lithium.

Bauxite and aluminium value chain

Mining mainly takes place in Awaso in the Bibiani-Anhwiaso-Bekwai Municipal district of the Western North Region. Ghana Integrated Aluminium Development Corporation (GIADEC) seeks to partner with the private sector to attract significant investment across the Bauxite and Aluminium value chain, in mining, refinery and smelting.

GIADEC is collaborating with the Ministry of Railways Development to construct more rails to transport commodities in the bauxite sector, presenting an additional investment opportunity in the transport segment of the value chain.

Oil and gas

Oil has been lifted off Ghana's coast in larger quantities only since 2011, when Tullow Oil's Jubilee field began production. In 2016, Tullow opened its second field. In mid-2017 the Sankofa field began production, operated by Italian Eni, which has since 2018 also been developing natural gas reserved exclusively for local consumption. The Norwegian company Aker Energy is currently exploring its Deep Water Tano / Cape Three Points concession and is set to start production shortly.

Iron and steel

Ghana's iron and steel industry is the foundation for transportation, heavy engineering, energy and construction industries. It predominantly produces iron rods, steel coils and steel balls for the construction, mining and allied industries.

Investment access

Only companies incorporated in Ghana are granted rights for reconnaissance, exploration or mining operations. A foreign entity can only be granted mining rights through a separate Ghanaian-incorporated entity.