New Materials market report from Timetric: "Precious Metals Mining in Ghana to 2020 - a Focus on the Gold Industry"
Boston, MA -- (SBWIRE) -- 10/29/2014 -- Factors such as positive investment environment, accessibility of geological data, political steadiness, plentiful reserves and upcoming projects are expected to drive the country's mining industry. However, the Ghanaian mining sector will need to overcome challenges such as illegal mining, electricity shortages, condensed subsidies and its tax structure, which could have a negative impact on the industry.
- Ghana has substantial reserves of gold, diamond, bauxite and manganese. In 2013, the country discovered deposits of other minerals such as phosphate, nickel, chromium and uranium through its Mining Sector Support Programme, which is sponsored by the European Commission.
- Ghana is the world's 10th-largest gold producer, as well as the second largest producer of gold in Africa, after South Africa, with a production volume of 3.4 million ounces in 2013.
- Ghana had 2,000 tonnes of gold metal content in its ore reserves at the end of 2013, accounting for 3.7% of global gold reserves; ranking the country eighth, according to USGS.
- Ghana has several upcoming projects which are expected to start production over 2014-2020. There are 118 upcoming gold projects, of which 114 are under exploration and four are in the feasibility stage.
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The report contains an overview of the Ghanaian gold mining industry together with the key growth factors and restraints affecting the industry. It also provides information about reserves, production, prices, competitive landscape, major active, exploration and development projects and the fiscal regime of the country.
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Companies Mentioned in this Report: Gold Fields Ltd, The Newmont Mining Corporation, AngloGold Ashanti Ltd, Kinross Gold Corporation
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