Professional Documents
Culture Documents
Report
Mining in Ghana
What future can we expect?
Foreword
Executive summary
10
Abbreviations
12
13
3. Local views
3.1 The different stakeholder groups
3.2 Key findings
14
17
25
27
32
37
39
43
44
45
49
References
53
Annexes
57
Annex
Annex
Annex
Annex
Annex
A: Input-output methodology
B: List of stakeholders interviewed
C: Workshop details
D: Key policy developments in Ghanas mining sector
E: The mine project life cycle
Acknowledgements
58
61
65
67
69
70
Foreword
Sulemanu Koney
Chief Executive Officer, Ghana Chamber of Mines
Mining
in Ghana
What future
can we expect?
Mining:
Partnerships
for Development
Tom Butler
Chief Executive Officer, ICMM
MiningMining:
in Ghana
What future
we expect?
Partnerships
for can
Development
Executive summary
Executive summary
Section 1
Ghanas economy and the role of mining
The mining sector plays an important role in the Ghanaian
economy as it attracts more than half of all foreign direct
investment (FDI), generates more than one-third of all export
revenues, is the largest tax-paying sector in the country and
makes a significant contribution to gross domestic product
(GDP) and employment creation.
National profile
Buoyed by high commodity prices, the advent of oil
production and related investments in mining and oil,
Ghanas economy grew from its average of 6.5 per cent
in the 2000s to 15 per cent in 2011 (non-oil GDP growth
in
2011 was about 8 per cent) before slowing down to about
7 per cent in 2013. This is comparatively higher than the
sub-Saharan African average growth rate of 4.2 per
cent in 2013.
Executive summary
Section 2
Macroeconomic life cycle contributions
of mining
For the first time, this report presents a picture of
macroeconomic contributions from the large-scale gold
mining industry in Ghana, using historical and current data
as well as projections provided by a number of Ghanas
largest mining companies. The seven mines which provided
life cycle data to this study together represent over 71 per
cent of the large-scale gold mining sector. Throughout this
report, all references to the mining sector or to large-scale
gold mining refer solely to this sample of seven mines.
In order to show the current and potential impact of mining
in Ghana, the report documents direct and indirect value
added (sum of salaries, taxes and profits that accrue to
Ghanaian residents or entities) and employment
contributions in Ghana between 2010 and 2022. The direct
contributions are based on the data provided by the sample
of mining companies and the indirect contributions are
based on input-output modelling (see Annex A).
Life cycle projections of the mining sector
The data provided by the sample of seven mines comprises
life cycle projections on sales volume and revenue, capital
expenditure (capex), operational expenditure (opex), social
investments, tax payments, mine closure costs and
employment figures. It should be noted that the life cycle
projections include what the sample of mining companies
planned for production in the beginning of 2014, are based
on a US$1,300 per ounce gold price and it is assumed that
international and national policy conditions remain broadly
as they are now.
Since 2010, the mining sector has increased production
volumes, but from 2014 onwards projections using the
sample data see production decreasing by an average
of
4.6 per cent per year. This decline in production reflects
genuine reductions in production due to the life cycle
stage of the mines in the sample (see Annex E), but is also
because a low gold price constrains mine extension plans.
Declining volumes and lower gold prices (compared to the
all-time high in 2011) bring about lower revenues and
expenditures. This diminishes the incomes for both mining
companies and the Government of Ghana, although the latter
receives a greater share. The data shows that over the
period
201022 the Government of Ghana is expected to receive
about US$1.6 for every dollar of company profits (profits
accruing to mining companies after all statutory obligations
are satisfied).
Section 3
Local views
To obtain local views on the impact of the mining sector on
the economy, and especially on mining communities and
livelihood alternatives, we engaged with 91 stakeholders.
The majority of the stakeholders interviewed were
community-based organizations and the others were from
national institutions.
Most community stakeholders hold the view that the
large-scale mining companies have contributed noticeably
to increasing overall economic benefits. Especially they
note that the sector has a positive impact on employment
and that business opportunities have opened up. Although
communities see positive economic opportunities, survey
respondents from national-level institutions perceive only
limited economic opportunities. The general observation
of this group is that while there has been an increase in
business opportunities for locals, jobs have been mostly
low paid, with limited upward mobility, and local businesses
have limited capacity to execute contracts offered by the
mines.
Apart from economic effects, stakeholders from the
communities also acknowledge that they have become
more dependent on social amenities provided by the mining
companies such as water supply and sanitation facilities,
library construction, and school scholarships. The impact
of these social investments has been largely uniform
across gender and by generations for the simple reason
that improvements in social amenities are generally shared
community goods.
Although environmental issues were outside the scope of
the study, without exception stakeholders highlighted the
negative impacts on the environment as a whole. These
include land use and water issues. The community
stakeholders were, however, unable to determine how
much of these environmental impacts could be attributed
to large-scale mining companies and how much to the
increasing activities of artisanal and small-scale miners.
It was generally acknowledged by national level
stakeholders (and backed by Environmental Protection
Agency data) that most adverse environmental impacts of
mining cannot be attributed to large-scale mining but to
unregulated artisanal mining and to a lesser degree
small-scale mining.
Section 4
Emerging priorities for action
Based on our analysis and stakeholder dialogue at a large
multi-stakeholder workshop in April 2015, there are five
emerging priorities for action. In order for these to be taken
forward, a forum to collectively identify concrete actions
and agree roles, responsibilities and timelines for tackling
them in a collaborative manner would be a useful first step.
Within the partnership arrangements that are identified,
there will be distinct roles for government agencies, the
Chamber of Mines, mining companies, mining industry
suppliers, development partners and CSOs (the latter two
being particularly relevant in the capacity building space).
1. Improve mining policy framework
Ghanas mineral policy has remained in a draft form since
1999. Sustained pressure from civil society organizations
and related stakeholder groups led to cabinets ratification
of the policy in December 2014. Whilst waiting for the
Minerals Commission to launch the policy, one can only
speculate that the key policy pillars are consistent with
the provisions of existing legislation. The mining policy
framework should be clearly defined and linked to the
countrys development plan. Although putting in place an
explicit mining policy does not necessarily guarantee good
legislation, it provides discipline for the legislative and
regulatory framework and guidance for the behaviour of
all stakeholders.
Limitations in scope
Although the study aims to be as comprehensive as possible,
there are several limitations in its scope forced by time and
other constraints:
The study focuses on gold mining because gold is by far
the most significant mineral mined in Ghana. Owing to
very limited data availability for artisanal and small-scale
mining, the focus in this study is on large-scale mines.
The sample of seven mines included in this report
represents about 71 per cent of large-scale gold mining
or approximately 46 per cent of the entire gold mining
industry in Ghana.
The projected life cycle data provided by each of the mining
companies is based on a gold price of US$1,300 per ounce.
It is also assumed that international and national policy
conditions remain broadly as they are now, which, like the
gold price, are likely to change.
The life cycle company data is based on planned production
figures from the sample of mining companies planned in
the beginning of 2014. These projections are based on
expenditures that are presently authorized and exclude the
ones that may be authorized or revised in the future.
Social and health/environmental impacts of mining are not
quantified in this report. This omission is intentional
because the quantification of these impacts would involve
a different type of analysis. The report, however, addresses
some of these impacts in a more qualitative way through
the stakeholder surveys that were conducted.
Abbreviations
ACET
African Center for Economic Transformation
ICMM
International Council on Mining and Metals
capex
capital expenditure
MPD
Mining: Partnerships for Development
CSO
civil society organization
NGO
non-governmental organization
ECOWAS
Economic Community of West African States
opex
operational expenditure
FDI
foreign direct investment
SAM
social accounting matrix
GDP
gross domestic product
SME
small and medium-sized enterprise
GSS
Ghana Statistical Service
UNCTAD
United Nations Conference on Trade and Development
GTAP
Global Trade Analysis Project
Ghanas economy
and the role of
mining
1
Ghanas economy and the role of mining
This section provides a brief
background of Ghanas recent
economic, social and governance
performance. It also provides the
context of the mining industry
in Ghana.
1.1
National profile
Governance
Ghana was the first sub-Saharan African colony to achieve
independence from the British in 1957. Administratively,
Ghana is a centralized country. There are 10 regions, but no
strong regional governments, and at the local level there
are districts and municipalities. In terms of traditional
governance system, almost all areas of the country are
under the leadership of traditional Stools or skins,
presided over by traditional chiefs.
Growth
After a severe collapse in the 1970s, the Ghanaian economy
began a recovery in the 1980s that continued through to
the 2000s, and slowly regained some of its lost potential.
Buoyed by high commodity prices for nearly a decade and
the advent of oil production in 2010, the economy grew, on
the back of related investments in mining and oil, from its
average of 6.5 per cent in the 2000s to 15 per cent in 2011
(non-oil GDP growth in 2011 was about 8 per cent) before
slowing down to about 7 per cent in 2013.This rate was
comparatively higher than the sub-Saharan African average
growth rate of 4.2 per cent (World Bank Group 2015). The
expansion of Ghanas oil industry contributed immensely to
the real GDP growth rate in 2011, that is, almost half of the
total real GDP growth in that year. Even without oil, the
growth rate has averaged about 7 per cent annually between
2008 and 2013 (see Figure 1). There is no doubt that the
resurgence of FDI in mining, sustained by favourable
gold prices, contributed to this growth spurt.
The growth in GDP is also reflected in the changing structure
of the Ghanaian economy. The Ghanaian economy is moving
away from agriculture in terms of GDP (about 22 per cent of
Ghanas total GDP) but still employs more than half of the
Ghanaian workforce. The industry sector, in which mining
resides, contributes about 28 per cent to GDP in 2013, and
by far the largest contributor to GDP is the service sector
(50 per cent of GDP).
Mining
in Ghana
What future
can we expect?
Mining:
Partnerships
for Development
MiningMining:
in Ghana
What future
can we expect?
Partnerships
for Development
14
Figure 1: Real GDP growth with and without the oil sector, 200813
With oil
Without oil
9.3%
9.3%
2008
4.0%
4.0%
2009
8.0%
7.7%
2010
15.0%
2011
9.6%
8.1% 8.8%
2012
6.5%
2013
2%
4%
6%
7.1%
8%
10%
12%
14%
16%
2009
2011
2013
-2
-4
-2%
-4%
-4%
-6
% of GDP
Fiscal picture
Ghanas fiscal picture is one of declining non-oil revenues,
persistent budget deficits (see Figure 2) and rising
debt-to-GDP ratios (see Figure 3). The main revenue
sources are taxes and non-tax revenue, complemented
by grants from development partners, although these
have been declining since 2005. Government spending,
mainly on recurrent expenditure including wages and
salaries, has consistently exceeded government revenue.
Recurrent expenditure reached as high as 86 per cent of
government spending in 2013. Persistent budget deficits
have been largely financed by domestic and foreign
loans, pushing the debt-to-GDP ratio to nearly 55 per cent
in
2013, and it remains one of the highest in the sub-region
(World Bank Group 2015). Moreover, Ghanas inflation at
13.5 per cent was well above the regional average of
below 10 per cent in 2013.
2007
-8
-8%
-9%
-10%
-10
-10%
-12%
-12
-14
-15%
-16
Sources: ACET with Ministry of Finance and GSS data.
20%
17%
2011
20%
20%
2013
27%
37%
40%
28%
10
20
30
55%
40
50
60
70
80
90
100
External accounts
Ghana has become more dependent on imports and suffers
from persistent trade and current account deficits. Imports
nearly doubled between 2005 and 2010. Though exports more
than tripled during the same period, it was not enough to
close the trade balance deficit. The deficit has increased to
US$3,849 million in 2013. Except for a modest surplus in
2003, the current account has averaged a deficit of about
6 per cent of GDP since reaching a peak of 12 per cent
in 2008.
3.0
1.2
The mining sector
2.5
2.0
1.5
1.0
0.5
0
1960
1970
1980
1990
2000
2010
5,000
4,000
US$ million
Total revenue
6,000
3,000
2,000
1,000
0
2005
2007
2009
2011
2013
Ownership
The ownership structure of the industry can be
categorized in two main phases. In the post-independence
phase (until
1983), there was almost 100 per cent state ownership, with
only one exception, the former Ashanti Goldfields Corporation
(Minerals Commission 2010). Furthermore, in 1972, the state
acquired a majority (55 per cent) interest in the non-stateowned mining operations (Minerals Commission 2010).
The second phase is the post-1983 Economic Recovery
Program phase with a push towards attracting foreign
investment, privatization and state divestiture. The sector is
now largely foreign owned; the Government of Ghana has
minority (10 per cent) free carried interest share in most of
the main active large-scale mining operations as shown in
Table 1, with Newmont and AngloGold Ashanti as
exceptions.1
Government
share
Type of
operation
Location in Ghana
Country of
*
origin
Annual output
(2013)**
Adamus Resources
10%
Gold
Teleku-Bokazo and
Nkroful (Western Region)
Australia
105,215 ounces
AngloGold Ashanti
1.7%
Gold
South Africa
239,052 ounces
10%
Gold
Canada
274,683 ounces
20%
Bauxite
China
826,994 tonnes
10%
Manganese
Australia
1,997,911 tonnes
10%
Gold
South Africa
785,421 ounces
10%
Gold
Canada
330,807 ounces
0%
Gold
USA
699,366 ounces
10%
Gold
Australia
198,608 ounces
10%
Gold
Ghana
22,853 ounces
Newmont Ghana
Sources: Ministry of Finance Ghana Extractive Industries Transparency Initiative (GHEITI) 2014 and company websites.
Notes: * Country of origin is ascribed to the country of the largest shareholder. ** Ghana Chamber of Mines 2013.
BURKINA FASO
Wulugu
UPPER WEST
National capital
Bolgatanga
UPPER
EAST
Lawra
International boundary
Province boundary
Bawku
Zebila
Navrongo
Tumu
Hamale
GHANA
Regional capital
Town, village
Nakpanduri
Gambaga
Wawjawga
Main road
Secondary road
Railroad
Wa
Airport
Gushiago
MINING OPERATIONS
Sawla
Gbenshe
Bole
1 Adamus Resouces
2 Chirano Gold Mines
NORTHERN
Daboya
Yendi
Tamale
Zabzugu
Japei
Damango
Bimbila
7 Newmont Akyem
Salaga
CTE DIVOIRE
0
0
Yeji
Bamboi
25
50
25
75
50
100 Kilometers
75 Miles
VOLTA
Kintampo
Dumbai
Sampa
BRONG-AHAFO
Kete Krachi
Kwadjokrom
Atebubu
Wenchi
Techiman
TOGO
Kadjebi
Jasikan
Ejura
Sunyani
Kumasi
Adriemba
Awaso
Konongo
Anyirawasi
Obuasi
Dzodze
Begoro
Akosombo
Dam
Kade
Oda
Dunkwa
Shai
Hills
3
4
CENTRAL
Elmina
Saltpond
Cape Coast
GREA
Ada Anloga
ACCRA
Tema
Teshi
Swedru
Twifu Praso
Sogakofe
TER
Nsawam
Foso
Aflao
Koforidua
Enchi
Accra
Winneba
Esiama
Axim
BENIN
Ho
L. Bosumtwi
Bekwai
WESTERN
Kpandu
EASTERN
Agogo
Wiawso
Volta
Mampong
ASHANTI
Hohoe
Lake
Bechem
Sekondi-Takoradi
Gulf of Guinea
Keta Lagoon
Keta
Date
1986
1986
1987
1989
1989
1989
1994
1994
1994
1999
1992 to 1999
2006
2010
2012
2012
2012
2012
The Minerals and Mining (Health, safety and Technical) Regulations LI 2182
2012
2012
Typical share in
low- and middleincome mineraldriven countries
Ghana
60%90%
>50%
30%60%
37%
3%20%
19%
3%10%
1.7%
1%
1.1%
EXPORTS
GOVERNMENT REVENUE
GROSS DOMESTIC
PRODUCT
DIRECT
EMPLOYMENT
Sources: Ghana figures are based on ACET with Bank of Ghana, Ghana Revenue Authority, GSS, Minerals Commission and Ministry of Finance data,
and the typical share is retrieved from previous MPD Toolkit applications.
2 There are a range of withholding taxes in Ghana. For a complete overview
of withholding tax rates see p30 of PwCs report: A quick guide to taxation
in Ghana 2014 Tax Facts and Figures.
1,023
1,372
2006
1,815
2007
2,264
2008
2,619
2009
3,888
2010
5,063
2011
2012
5,771
2013
5,141
1,000
2,000
3,000
4,000
5,000
6,000
7,000
US$ million
2005
2006
3,727
4,195
2007
5,270
2008
5,880
2009
2010
7,960
2011
12,773
2012
13,552
2013
13,752
0
2,000
4,000
6,000
8,000
US$ million
10,000
12,000
14,000
16,000
Figure 9: Tax payments from the mining sector as percentage of total direct tax payments in Ghana, 200513
2005
11%
2006
10%
14%
2007
15%
2008
18%
2009
21%
2010
28%
2011
21%
2012
19%
2013
5%
10%
15%
20%
25%
30%
35%
10
20
30
40
50
60
70
80
90
100
Macroeconomic life
cycle contributions
of mining
2
Macroeconomic life cycle contributions of mining
This section presents for the first
time a picture of the macroeconomic
contributions from Ghanas mining
sector, using both actual and projected
data provided by a number of Ghanas
largest mining companies (see Annex
A for more details on the data and
assumptions used). The seven mines
together represent over 71 per cent of
the large-scale gold mining sector or
approximately 46 per cent of the entire
gold mining industry in Ghana.
Figure 11: Percentage breakdown of the gold mining sector based on gold volumes produced in 2013
Data partially available
Data available
Newmont Akyem 3%
Chirano Gold Mines 6%
Adamus Resources 2%
Perseus Mining (Ghana) 5%
Other mining companies 1%
Total small-scale 35%
Source: Minerals Commission.
26
Mining
in Ghana
What future
can we expect?
Mining:
Partnerships
for Development
MiningMining:
in Ghana
What future
can we expect?
Partnerships
for Development
26
2.1
Life cycle projections of the mining sector
Figure 12 provides an overview of the historical and
projected mine production volumes and shows increasing
production volumes from 1,910 thousand ounces in 2010 to a
projected amount of 2,138 thousand ounces in 2014. From
2014, projected production on average decreases by 4.6 per
cent per year to 1,510 thousand ounces in 2022. This decline
reflects genuine reductions in production but is also because
a low gold price constrains mine extension plans. Genuine
reductions happen because mines are in different phases of
the life cycle (see Annex E). For example, one mine is
expected to close in 2019 while others are (almost) in full
production. The data taken from the sample of mining
companies does not include any new projects that may come
on stream in
the future. Nor does it include exploration companies,
and therefore the decline in projected gold production is
not necessarily a trend for the entire gold mining
industry.
Figure 12: Historical and projected mine production volumes for the seven mines in the sample, 201012
Historical data
2010
2011
1,910
2,036
2012
2013
Projected data
2014
2015
2016
1,907
2017
1,908
2018
1,922
2019
1,902
2020
Average
4.6%
production
decrease
per year
1,836
1,533
2021
1,510
2022
Average
1,896
500
1,000
1,500
000 ounces
Source: Steward Redqueen and mining company data from seven mines.
2,000
2,500
Macroeconomic life cycle contributions of mining Macroeconomic life cycle contributions of mining
Figure 13: Historical and projected sales revenues and expenditures for the seven mines in the sample, 201022
Sales revenues
Historical data
Expenditures
2,258
2,162
2010
2011
3,342
2,725
2012
3,064
2013
3,481
3,447
Projected data
2,095
2014
2,317
2,255
2015
3,693
2,446
2,221
2,104
2,194
2,054
2,222
2,078
2,185
2,065
2016
2017
2018
2019
2,220
1,909
2020
2,062
2021
1,716
2022
1,728
2,075
2,262
Average
500
1,000
1,500
2,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
2,517
2,500
3,000
3,500
4,000
Figure 14: Total historical and projected revenue breakdown for the seven mines in the sample, 201022
Non-labour capex
Social investments
Non-labour opex
Historical data
2010
539
2011
436
2012
276
96 2,258
226
1,364
470
2013
193
1,138
641
1,602
617
256
1,139
3,342
675
1,439
417
311
539
3,481
245
3,693
Projected data
2014
326
2015
431
2016
332
2017
328
2018
338
231
1,142
229
1,236
1,209
1,186
364
310
2021
1,181
995
181
176 995
243
905
2022
Average
418
0
1,201
1,500
2,317
191
273
117
218
294
220
331
145
210
305
121
140
312
2,194
2,222
2,185
2,220
2,062
347
2,075
408
2,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
2,446
2,221
346
218
1,000
351
418
171 412
161 415
500
222
228
1,236
2019
2020
367
255
2,517
2,500
3,000
3,500
4,000
Figure 15: Historical and projected cumulative expenditures, government income and mining profits, 201022
Total expenditures (excl government income)
Historical data
2010
2011
2012
2013
Projected data
2014
2015
2016
2017
2018
2019
2020
2021
2022
74%
5,000
10,000
16%
15,000
20,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
3 In cases where foreign profits are reinvested in Ghana they will reappear
as national payments or imports in the following years.
25,000
10%
30,000
35,000
Macroeconomic life cycle contributions of mining Macroeconomic life cycle contributions of mining
Historical data
2010
199
2011
161
499
2012
174
591
2013
421
Non-labour capex
Social investments
Non-labour opex
419
139
276
171
1,050
1,530
641
200
504
675
1,700
257
1,741
539
Projected data
2014
121
2015
433
160
2016
2017
2018
479
125
121
460
466
135
2020
115
2021
65
2022
90
Average
155
469
123
2019
184
180
182
467
396
367
1,170
273
331
294
180
305
1,065
1,104
1,066
1,091
418
1,089
148
412
1,011
141
415
1,017
456
177
400
1,134
351
184
179
155
383
200
367
600
408
800
1,213
1,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
1,200
1,400
1,600
1,800
2,000
2.2
Minings impact on value added
In order to show the current and potential impact of mining
in Ghana, the report shows direct and indirect value added
in Ghana between 2010 and 2022. Value added is defined
as the sum of salaries, taxes and profits that accrue to
Ghanaian residents or entities and is comparable to
Ghanas GDP. From the life cycle data provided by the
sample of mining companies, we can determine the direct
value added that the sample contributes to Ghana. However,
in order to determine the indirect value added in Ghana, we
need to understand how much is locally procured and in
which economic sectors those payments end up.
Figure 17 presents a visual impression of how value added
(grey arrows and dots) is created as the spending of the
sample of mining companies (blue arrows and dots) and the
intermediary demand between sectors (red arrows) moves
through the economy. The size of the blue dot indicates
total payments made by the sample of mining companies.
The size of the red dots shows the amount of value added
generated by a sector. The size of he grey dots shows the
beneficiaries of value added. The line thickness indicates the
size of a flow.
The single largest flow is the tax and non-tax contribution of
mining to government income. The construction sector
receives most of the supplier expenditures, but there are also
considerable expenditures on local trade, manufacturing and
utilities. The indirect value added from intermediary demand
(red arrows) is shown as grey arrows flowing from each
economic sector to the value-added components.
Figure 17 also shows how the sample of mining companies is
integrated into Ghanas economy. While it may never be
possible to source all specialized products and services
from within Ghana, there are opportunities to get a greater
degree of integration via upstream linkages, which can drive
greater economic diversification (if these sectors can supply
other sectors, rather than be reliant only on the mining
sector
for business).
Figure 17: Pathways through which the sample of mining companies expenditures creates value addition
Supplier payments
Agriculture
Intermediary demand
Value added
Manufacturing
Utilities
Extractives
Mining companies
Construction
Trade
Services
Source: Steward Redqueen and mining company data from seven mines.
Note: For reasons of interpretation, intra-sector flows and flows smaller than US$1 million are excluded.
Household income
Government income
Figure 18: Historical and projected value added per round, 201022
Mining companies
Direct suppliers
Suppliers suppliers
Historical data
2010
2011
2012
2013
425
324
187
927
357
812
226
875
408
261
796
507
252
3.2% of GDP
Projected data
2014
2015
2016
2017
1,395
551
270
531
454
210
297
275
2018
474
515
265
263
2019
485
274
1,031
1,056
228
228
224
224
227
957
963
1,002
986
1,544
1,556
2020
2021
2022
Average
573
233
560
192
556
203
1.3%
584
194
400
600
936
183
940
180
298
200
1,000
217
800
1,099
1,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
1,200
1,400
1,600
1,800
Figure 19: Historical and projected value added per category, 201022
Household income
Historical data
2010
494
2011
571
2012
660
2013
786
91
342
Government income
927
1,395
107
716
1,544
123
761
134
636
1,556
Projected data
95
2014
507
2015
534
2016
519
429
104
419
101
338
99
1,056
957
358
2017
507
2018
509
99
394
2019
515
101
370
2020
441
963
86
2021
397
78
461
2022
396
79
465
Average
526
200
400
1,002
986
473
1,000
936
940
128
1,031
600
446
1,099
800
1,000
US$ million
Source: Steward Redqueen and mining company data from seven mines.
1,200
1,400
1,600
1,800
Macroeconomic life cycle contributions of mining Macroeconomic life cycle contributions of mining
Figure 20: Historical and projected government income broken down by source 201022
Historical data
2010
Payroll tax
Other taxes
84
2011
69
2012
46
2013
27
33
90
59
140
42
86
49
75
55
Royalties
19 342
46
279
111
349
53
144
254
129
22
60
71
26
716
26
761
636
Projected data
2014
25 65
42
2015 21 57
116
39
121
2016
59
39
55
2017
57
37
75
2018
56
38
102
2019
49
32
120
43
113
108
47
44
110
21
419
21 338
43
119
88
19 429
124
20
358
43
20
44
20
394
370
2020
35
41
27
2021
38
39
26 204
104
33 16 461
2022
39
38
25 206
108
34 16 465
Average
28 65
184
37
100
131
163
38
114
200
300
46
400
US$ million
Source: Steward Redqueen and mining company data from seven mines.
17 473
20
474
500
600
700
800
Figure 21: Historical and projected value added per sector, 201022
Historical data
2010
62
2011
82
2012
93
2013
87
Agriculture
Manufacturing
Extractives
Utilities
30
38
138
31
92
53
36
39
Trade
Services
81
141
60
Construction
105
154
96
59
122
110
278
54
511
61
583
81
123
113
699
54
760
Projected data
2014
85
2015
92
92
28
92
91
27 67
26 67
88
84
100
97
88
85
32
503
30
489
92
26 68
85
96
83
28
92
26 69
91
2016
2017
2018
2019
2020
25
2021
79
76
22 59
20 58
2022
75
20 56
Average
84
91
81
78
46
82
62
75
66
64
112
97
200
300
32
84
70
480
88
96
77
30
100
10
0
111
111
67
67
27 60
100
99
62
27
26
29
376
525
487
502
35
427
384
85
400
US$ million
Source: Steward Redqueen and mining company data from seven mines.
40
500
515
600
700
800
2.3
Minings impact on employment
Figure 22: Historical and projected direct, indirect and induced employment per sector, 201022
Mining companies
Historical data
2010
35
2011
36
2012
38
2013
Direct suppliers
Suppliers suppliers
39
Re-spending of salaries
40
43
120
127
42
50
48
47
143
148
38
2014
24
2015
26
2016
25
24
39
35
106
24
39
36
106
25
40
36
55
Projected data
2017
37
35
40
104
37
40
111
36
108
2018
2019
2020
2021
2022
Average
34
107
21
31
19
32
28
83
19
31
28
0.6% of labour force
83
27
39
20
91
37
40
60
111
80
100
120
140
160
Figure 23: Historical and projected direct and indirect employment per sector, 201022
Agriculture
Manufacturing
Extractives
Utilities
Mining companies
Historical data
2010
2011
3 7
10
2012
3 7
12
2013
11
3 8
Trade
Transportation and communication
Construction
27
11
5
13
Services
30
12
37
80
6
85
8
36
8
7
95
5
93
Projected data
2014
2 8
2015
2016
4 3
2017
31
3 71
2018
31
3 70
2019
31
3 71
2020
3 2 6
27
2021
3 2 6
2022
3 2 5
Average
6
7
29
5
32
32
25
2 56
25
2 55
20
30
40
3 74
3 72
3 61
3 68
60
73
80
100
120
2.4
Scenario analyses
As indicated, the results in this report are not forecasts but
rather an illustration of what is likely to happen. Changes in
the gold price, fiscal policy or the amount of goods and
services procured locally will influence the sample of mining
companies contribution to the Ghanaian economy. In order to
address this, we examine the following three scenarios:
decline in the projected gold price
increase in the royalty rate
increase in local sourcing by the sample of mining
companies.
Figure 24: Value added per job (direct and indirect) in several sectors (in US$ per job) of the Ghanaian economy on average
Ghanaian average
80,000
Agriculture
70,000
Manufacturing
Number of jobs
60,000
50,000
Trade
40,000
30,000
Services
Utilities
20,000
10,000
Mining
companies
0
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Macroeconomic life cycle contributions of mining Macroeconomic life cycle contributions of mining
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2010
2012
2014
2016
2020
2022
800
2018
700
600
500
400
300
200
100
0
2010
2012
2014
2016
2018
2020
2022
2010
2012
Change in employment
2014
2016
2018
2020
2022
Gold price US$1,100
Gold price US$1,300
Employment
160
140
120
100
80
60
40
20
0
2010
2012
2014
2016
2018
2020
2022
Source: Steward Redqueen and mining company data from seven mines.
5% royalty
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2010
2012
2014
2016
2018
2020
2022
10% royalty
5% royalty
800
700
600
500
400
300
200
100
0
2010
2012
Change in value added
2014
2016
2018
2020
2022
10% royalty
We used scenario-specific
assumptions to adjust the
life cycle data provided by
the sample of mining
companies.
5% royalty
1,900
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
2010
2012
2014
2016
2018
Change in employment
2020
2022
10% royalty
5% royalty
160
140
120
100
80
60
40
20
0
2010
2012
2014
2016
2018
2020
2022
Source: Steward Redqueen and mining company data from seven mines.
2,500
2,000
1,500
1,000
500
2012
2014
2016
maintenance supplies
overhead.
2022
700
600
500
400
300
200
100
0
2010
2020
800
materials
2018
contract services
2012
2014
2016
2018
2020
2022
14 This is straightforward given that government income is the only valueadded component (salaries, Ghanaian company profits and government
income) that changes.
3,000
2010
capital equipment
13 In the short run this may not be the case as it is more difficult to produce
products for the same price as imported products, but in the long run
Ghanaian companies can become competitive especially considering the
lower transportation costs.
3,500
12 For these expenditure items we assume that first the low hanging fruit,
that is products and services of less technical requirements, are
procured. Other expenditure items such as transportation and
communication are already almost fully locally sourced and therefore
have not been included in the assumptions/analysis.
4,000
1,900
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
2010
2012
2014
2016
Change in employment
2018
2020
2022
160
140
120
100
80
60
40
20
0
2010
2012
2014
2016
2018
2020
2022
Source: Steward Redqueen and mining company data from seven mines.
Lo
cal
vi
e
w
Local views
3
Local views
In addition to the desk research and
forward-looking analysis based on
company data, we undertook
consultations with key stakeholders to
better understand the impact that the
mining sector has had on the economy
and especially on mining communities
and their social and economic well-being.
We also asked stakeholders to identify
the key challenges that are facing the
sector and what measures and
interventions they think may be useful
in order to enhance the sectors impact.
3.1
The different stakeholder groups
The sample of participants surveyed was selected to reflect
a broad representation of key stakeholder groups in the
mining sector. The majority of the stakeholders interviewed
(55 per cent) were community-based organizations. The
remaining
45 per cent were from national institutions, with the majority
of them based in the capital city, Accra. Overall, 91 interviews
were conducted with key stakeholders from Ghanas mining
sector (see Annex B) largely from seven broad stakeholder
groups shown in Figure 28.
The community stakeholders were drawn from the
surrounding areas of two mining operations in the
country
Chirano mine and the Damang gold mine. These mining
operations are in different stages in the life cycle (see
Annex E). Together, these mines represent almost 10 per
cent of
gold production in Ghana. The selection of stakeholder groups
within the communities was informed in part by our
consultations with the mining companies and the traditional
authorities in the area as shown in Figure 29.
Parliamentarians 14%
CSOs and think
tanks 14%
Private sector
associations 10%
Educational
institutions 2%
Source: Field survey.
44
Mining
in Ghana
What future
can we expect?
Mining:
Partnerships
for Development
MiningMining:
in Ghana
What future
can we expect?
Partnerships
for Development
44
3.2
Key findings
Traditional
councils 39%
Local government
institutions 36%
CSOs 17%
Security services 4%
Mining sector
related companies 4%
Source: Field survey.
Very positive
21%
65%
67%
Positive
5%
11%
Negative
5%
No effect
2%
Cannot tell
7%
5%
10%
20%
30%
40%
50%
60%
70%
80%
Local views
Local views
No effect 12%
Men
Positive 76%
No effect 12%
Women
Positive 78%
No effect 10%
Children
Positive 80%
Figure 32: Ideas that would improve the impact of the sector, according to different stakeholder groups
Strengthening the policy,
fiscal and legal framework
14%
14%
Suppliers
Increased legislation
43%
33%
CSOs
83%
17%
75%
33%
Private sector
associations
Development
partners
75%
57%
43%
0%
Ministries,
departments
and agencies
27%
27%
36%
0%
Parliamentarians
50%
17%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Figure 33: The percentage of stakeholders that identified one of the specific negative effects that mining brings about
Destruction of environment
100%
88%
Collapse of livelihood
66%
Health problems
37%
Social vices
17%
No negative effect
20%
40%
60%
80%
100%
It is generally acknowledged by
well-informed stakeholders of
the mining industry in Ghana,
and this position is backed by
Environmental Protection
Agency data (AKOBEN Audits),
that most adverse environmental
impacts of mining cannot be
attributed to large-scale mining
but to unregulated artisanal
mining and to a lesser degree
small-scale mining.
48
Emerging priorities
for action
4
Emerging priorities for action
General expectations about the future
contribution of mining to Ghanas
socioeconomic development have never
been greater. This report has assessed
past and present contributions and
has used the findings and projections
from a sample of mining companies to
project possible future contributions.
If minings local
procurement is increased by
25 per cent, the impact on the
Ghanaian economy would be
US$50 million in terms
of value added and about
9,000 additional jobs. If
linked to a broader
industrial development
policy, linkages with the
non-mining sector of
the economy would deepen.
Priorities for action identified during the workshop
discussions and suggested for each key stakeholder group
are noted below.
Government of Ghana and Ghana Chamber of Mines:
Collaborate with the Minerals Commission in monitoring
the compliance of companies to local content regulations.
Anticipate obstacles in compliance with legislation for
mining companies and local suppliers.
Provide opportunities for local suppliers to learn more
about items selected for local sourcing and inform about
the standards of quality required.
Mining companies:
Continue collaboration with government in the detailed
assessment of items that are feasible to be produced
in Ghana.
Explore opportunities with existing suppliers or make a
co-ordinated effort to start (a portfolio of) companies to fill
the needs of mining companies.
Work with local business to improve the quality and service
delivery of their products over time to meet the standards
of the mining industry.
51
52
References
R
R
References
References
ACET (2013).
Ghanas mineral fiscal regime: a baseline
study. Accra, Ghana, ACET.
Africa Progress Panel (2013).
Equity in extractives: stewarding Africas natural resources
for all. Africa Progress report 2013.
Geneva, Switzerland, Africa Progress Panel.
Akabzaa, T and Darimani, A (2001).
Impact of mining sector investment in Ghana: a study of the
Tarkwa mining region. A draft report prepared for the
Structural Adjustment Participatory Review Initiative
(SAPRI). Washington, DC, SAPRI.
www.saprin.org/ghana/research/gha_mining.pdf
option=com_content&view=category&
layout=blog&id=117&Itemid=232
option=com_content&view=category&
layout=blog&id=117&Itemid=232
Bank of Ghana.
Monetary time series data. Accra, Ghana, Bank of Ghana.
www.bog.gov.gh/index.php?option=com_wrapper&view=wrapper&
Itemid=231
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What future
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Mining:
Partnerships
for Development
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in Ghana
What future
can we expect?
Partnerships
for Development
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Ibrahim, M S (2013).
Mining contributing greatly to Ghanas economy. Modern
Ghana Media Communication.
www.modernghana.com/news/475679/1/mining-contributinggreatly-to-ghanas-economy.html
ICMM (2007).
Ghana country case study. The challenge of mineral wealth:
using resource endowments to foster sustainable
development. London, UK, ICMM.
www.icmm.com/document/301
ICMM (2008).
Ghana: sowing the seeds for action. Action learning through
partnerships. The challenge of mineral wealth: using
resource endowments to foster sustainable development.
Spotlight series 11, July. London, UK, ICMM.
www.icmm.com/document/313
ICMM (2011).
Mining: Partnerships for Development Toolkit.
London, UK, ICMM.
www.icmm.com/document/1945
Khan, R (2012).
African economic overview and the role of the private
sector. Standard Chartered public presentation.
http://fr.slideshare.net/AsiaHouse/1-razia-khan-standardchartered-bank
References
A
nn
ex
es
Annex A
Input-output methodology
Allocation of financials to
economic sectors
GTAP data
Macroeconomic data
Employment data
INPUT
OUTPUT
OUTCOME
FINAL RESULT
Figure 35: The four rounds of direct, indirect and induced effects on value added and employment indicators
DI
RE
C
T
V
AL
UE
C
H
AI
MI
NI
N
G
S
TO
TA
L
IM
P
58
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in Ghana
What future
can we expect?
Mining:
Partnerships
for Development
MiningMining:
in Ghana
What future
can we expect?
Partnerships
for Development
58
Annex A
Input-output methodology
Input
Output
Adamus Resouces
Chirano Gold Mines
Gold Fields Damang
Gold Fields Tarkwa
Golden Star Wassa
Newmont Ahafo
Newmont Akyem.
GTAP data
For Ghana, the most recent data with which to construct
the SAM is from 2007 and is taken from the GTAP 8 Data
Base (Global Trade Analysis Project 2012). The SAM is the
key ingredient of the methodology and is explained in more
detail below.
Macroeconomic data
To be representative, 2013 GDP data (sector and
expenditure breakdowns) from the GSS has been used to
update Ghanas SAM. In addition, macroeconomic figures
such as gold production, GDP, labour force and government
revenue have been obtained from sources including the
Bank of Ghana, Ministry of Finance and Minerals
Commission.
Employment data
The employment data per economic sector is derived from
the 2010 Population and Housing Census conducted by the
GSS (Ghana Statistical Service 2013). These figures have been
extrapolated to 2013 to account for the growth of the labour
population. From that, so-called employment intensities
per sector are determined (ie the number of jobs needed to
produce a million dollars of output).
Because of the importance of the informal sector in Ghana,
the methodology differentiates between formal and informal
job intensities.15 Not distinguishing between formal and
informal employment would cause an underestimation of the
number of indirect jobs, as the informal part of the economy
is more labour intensive than the formal one (see the section
Employment intensities below for more details on the use
and treatment of employment data).
15 In line with findings presented by Khan (2012) and Schneider, Buehn and
Montenegro (2010) we have assumed that about 65 per cent of national
output is formal and 35 per cent is informal; and in line with findings from
the 2010 Population and Housing Census from the GSS (Ghana Statistical
Service 2013), we assume that about 15 per cent of the labour force is
formally employed and the other 85 per cent is working in the informal
sector.
Annex A
Input-output methodology
Manuf
acturi
From
ng
To
Ag
ric
Agriculture
ult
Manufacturing
Sa
m
pl
coe
m of
pami
ni ni
es
Investments
Exports Taxes
Household
consumption
Retail
Rows indicate how
each sector/stakeholder
receives money
Sample of mining
companies
TRANSFERS
Retail
Households
Taxes
Imports
CONSUMPTION
NON-MARKET
Dividends/savings
Columns indicate how
each sector/stakeholder
spends money
Source: Steward Redqueen.
Employment intensities
Because this report focuses on 201022 results, the
employment breakdown from the 2010 Population and
Housing Census has been extrapolated to the years for
which total labour force figures were available. This means
that for
201113 employment figures have been extrapolated and for
the period 201422 the year 2013 serves as the reference
year.
By using the employment data and the output derived from
the national SAM, we calculated employment intensities.
The employment intensity shows the number of jobs per
one unit of output. That intensity is then multiplied by the
amount of output that is supported by the sample of mining
companies to estimate the total number of jobs supported
(differentiating between formal and informal jobs). These
employment intensities have been determined using data on
the formal and informal output and employment per sector.
Data gaps have been compensated using the following
assumptions:
Outcome
Value-added and employment multipliers
Making use of the national SAM, value-added and employment
multipliers are calculated. These multipliers are used to
determine the impact on different dimensions such as impact
per round, per industry and per value-added component.
Annex B
List of stakeholders interviewed
In addition to undertaking desk research forwardlooking analysis based on company data we undertook
consultations with key stakeholders to better understand
the impact that the mining sector has had on the economy
as a whole and especially on mining communities and
livelihood alternatives. Table 3 provides an overview of all
stakeholders interviewed.
Annex A
Input-output methodology
Government of Ghana
institutions
State institutions
Organization
Position
Name
Deputy Director
Dr. Addo-Yobo
Director, Policy
Forestry Commission
Director
Mr Chris Ocansey
Officer in Charge of
Industrial Statistics
Anthony Krakah
Chief Business
Development Officer
Jacob Essel
Mr. Obiri-Yeboah
Twumasi
National Coordinator
Franklin Ashiadey
Executive Director
Mr Twum-Akwaboah
Research Officer
Sampson Agyapong
CEO
Mr Badu-Aboagye
Director General
Nana Osei-Bonsu
Compliance Manager
Peter Bennett
Multi-Tech Services
General Manager
Ulrik Jacobson
Orica Ghana
Francis Decker
Zen Petroleum
CEO
William Tewiah
Outotec Ghana
Enoch Kusi-Yeboah
Pelangio Exploration
Exploration Manager
Samuel Torkornoo
Corporate Communications
Manager
Edward Akuoko
Policy Analyst
Director
Bernard Anaba
Dr Steve Manteaw
Coordinator
Yao Graham
IBIS
Mohammed Mahamud
Emmanuel Kuyole
Executive Director
Richard Ellimah
IMANI
Research Assistants
Annex B
List of stakeholders interviewed
Position
Name
MP
Prestea/Huni-Valley
MP
Abuakwa South
MP
Bibiani/Anhwiaso/Bekwai
MP
Kade
MP
Parliamentary select
committee
Committee Member
Development partners
Canadian Embassy
Trade Commissioner
Peter Fiamor
Deutsche Gesellschaft fr
Internationale Zusammenarbeit
Allan Lassey
Swiss Embassy
Brigette Cuendet
Ebenezer Aryee
Netherlands Embassy
Fred Smiet
European Union
In Charge of Mining
Herve Delsol
World Bank
Environmental Specialist
Felix Oku
Director
Educational institutions
Annex B
List of stakeholders interviewed
Government of Ghana
institutions
Traditional authorities
Organization
Position
Name
L A Santana
Land Valuation
P J Abakah
Agricultural Economist
Andrew Agyemang
District Coordinating
Director
Bibiani/Anhwiaso/Bekwai
Jacob Ware
Forestry Commission
Gilbert Ampofo
Technical Officer
Charles Ofosu
Prestea/Huni-Valley District
Subri Community
Chief
Nyamebekyere Community
Chief
Nana Ekumfi
Nyamebekyere Community
Queen mother
Felicia Amponsah
Koduakrom Community
Chief
Damang Community
Chief
Amoanda Community
Chief
Paramount Chief
Aboso Community
Chief
Aboso Community
Secretary
Seth Gyimah
Spokesperson
Peter Amoh
Amoanda
Youth Chairman
Francis Badoo
Damang
Youth Chairman
J K Mensah
Chairman
Solomon Ankomah
Amoanda Community
Opinion Leader
Kwadwo Addo
Koduakrom Community
Opinion Leader
Emmanuel Odoom
Amoanda Community
Opinion Leader
Stephen Prah
Bosomoiso Community
Chief of Bosomoiso
Wiawso Community
Akoti
Chief of Akoti
Paboase/Community Consultation
Committee
Aboduabo Community
Chief of Aboduabo
Etwebo Community
Chief of Etwebo
Anhwiaso
Local authorities/government
Security services
Organization
Position
Name
Damang
Assemblyman
Assemblyman
Subri
Assemblywoman
Aboso Community
Assembly man
Aboso Community
Assembly man
Aboso Community
Assembly man
Koduakrom Community
Afriyie Siaw
Member
Prestea/Huni-Valley District
Ghana Police
Assistant Superintendent of
Police Kwadwo Amakye Ansah
Fire Service
Thomas Tettey
General Manager
Bruce Starleen
Site Manager
Horveh Amevordji
Supervisor
Agnes Anietey
Annex C
Workshop details
Topic(s)
9am
Registration
9.15am
Introduction of Chair
Ahmed Nantogmah
Opening remarks
9.45am
Speaker(s)
2. Macroeconomic background
3. Impact methodology
5. Survey results
6. Q&A
11.30am
Breakout sessions
1. Local economic development
Including coffee break
2. Revenue management
3. Social investments
12.30pm
Feedback to plenary
1pm
Closing of workshop
1.30pm
Lunch
Annex D
Annex C
Workshop details
Workshop overview
The purpose of the workshop held on 29 April 2015 was
to serve as a forum to discuss and debate the initial
findings from the study, and discuss and identify practical
opportunities for multi-stakeholder collaboration where
mining companies, government, international organizations
and civil society could work together to improve the social
and economic outcomes from mining in Ghana. The
workshop was attended by more than 70 stakeholders,
representing a broad cross-section of the government,
industry, civil society and donors.
Following welcoming remarks from Mr Sulemanu Koney
(CEO of the Ghana Chamber of Mines), the workshop was
formally opened by the Honourable Minister Nii Osah Mills
(Minister of Lands and Natural Resources). The Honourable
Minister Mills said:
While mining has been a key driver in our strong economic
growth, the industry has even greater potential to improve
the well-being of all Ghanaians. The best way to make that
a reality is for all segments of society to be part of planning
a definite future for mining in Ghana and seeing to its
implementation. Mining therefore has an integral part to
play in our economy.
After that Ms Kate Carmichael (Manager Social and
Economic Development of ICMM) gave an introduction and
Dr Joe Amoako-Tuffour and Dr Ren Kim presented the
draft findings of the study. This was followed by breakout
sessions, where participants split into three groups to
exchange ideas and discuss practical steps that could be
taken to strengthen partnerships for development in the
Ghanaian mining sector.
The breakout sessions focused on three areas: local
economic development, revenue management and social
investments.
The discussion about local economic development was
focused on local procurement and ways to enhance this.
Most participants agreed that the best way to do this was by
constructing a comprehensive national action plan for more
local procurement and linked industries.
Year
Key developments
2004
2006
2007
2005
2009
2010
2011
2012
Annex E
Annex D
Key policy developments in Ghanas mining sector
Year
Key developments
2013
2014
operation
final closure and decommissioning
post-closure.
Exploration
110 years
or more
Operation
2100 years
Postclosure
A decade to perpetuity
Labour/activity level
High
Low
Source: ICMM.
Time
Low
Acknowledgements
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2015 International Council on Mining and
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