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Follow on Google News | New market study, "Ghana Mining Report Q1 2011", has been publishedFast Market Research recommends "Ghana Mining Report Q1 2011" from Business Monitor International, now available
This upbeat data underlines BMI's own positive view towards the Ghanaian mining sector at present. We believe the scene is set for continued steady growth over our newly-extended forecast period to 2015. Country Overview Ghana contains the second-largest area of gold deposits in the African region after South Africa. The nation derives the bulk of its external revenue from gold mining, which accounts for over 90% of Ghana's total mineral exports. Apart from gold, Ghana also produces significant quantities of bauxite, manganese and diamonds, although diamond output has been affected in recent years by the closure of Ghana Consolidated Diamonds in 2007. Ghana is home to some of the biggest names from the global gold industry: Gold Fields, Newmont and AngloGold Ashanti. Industry Forecast Ghana's mining sector holds great potential. The country is regarded as stable, with clear regulatory standards governing the industry. Ghana is already Africa's second-largest producer and exporter of gold. and the country even managed to expand its mining sector during the global economic crisis of 2009, given its position as a key gold producer. In calculating its forecasts, BMI has also taken account of the vast untapped potential of Ghana's mining industry, with significant amounts of exploration work currently taking place around the country. As such, we expect the value of the mining industry to increase sharply over our forecast period. By 2015, the total value of the Ghanaian mining industry should reach around US$2.5bn. Any Moves To Alter Mining Agreements Would Cause Unease In August 2010, Bloomberg reported on AngloGold Ashanti's comments that it would not be 'appropriate' for Ghana to consider the renegotiation of any part of the 2004 agreement that set a cap on the amount of mining royalties it pays to the government. At that time, the government was reportedly considering a review of the stability agreement, part of which saw AngloGold Ashanti exempted from the March 2010 rise in the country's mineral royalty tax rate, from 3%, to 5%. AngloGold is Ghana's major gold producer, with output up 2.5% year-on-year (y-o-y), at 571,295 oz, in 2009. Newmont Ghana also has a similar stability agreement currently in place. With no fresh news on this issue since August, it may have been the case that this had just been a case of 'sabre-rattling' by the authorities in Accra. However, there remains a danger that the government may decide in the future to make changes to existing agreements. If the latter, it would be a clear negative signal towards foreign mining investment, but one that would repeat a pattern of rising hostility towards mining companies seen in other African countries across 2010. BMI will monitor the situation on the ground in 2011 and report on any developments if and when they occur. In a separate development, Reuters reported in November 2010 on moves by the Ghanaian authorities to increase the transparency of what revenues are paid to local governments, in the wake of concern that revenues are either being misused or not fully accounted for. Deputy Minister for Lands and Natural Resources, Henry Ford Kamel, said that he would like to see local authorities publish the full details of what mining royalties have been paid to them, to ensure the funding is going towards local development projects. For more information or to purchase this report, go to: - http://www.fastmr.com/ Report Table of Contents: Executive Summary SWOT Analysis - Ghana Political SWOT - Ghana Economic SWOT - Ghana Business Environment SWOT Global Mining Outlook - Table: Exploration Projects - Table: Company Projects Industry Trends And Developments - Overview - Regulatory Structure And Developments Key Projects - Bauxite - Gold - Manganese - Minerals - Diamonds Business Environment - Africa Mining Business Environment Ratings - Table: Africa Mining Business Environment Ratings - Ghana's Business Environment Ratings Political Environment - Domestic Politics - Long-Term Political Outlook Commodities Forecasts - Aluminium - Table: BMI's Aluminium Forecasts - Table: Aluminium, 2006-2012 - Zinc - Table: BMI's Zinc Forecasts - Table: Zinc, 2005-2012 - Tin To Average US$24,000/tonne In 2011 - Table: BMI's Tin Forecasts - Table: Tin, 2006-2012 Ghana's Mining Industry Forecast - Table: Ghana's Mining Industry, 2007-2015 Competitive Landscape - Table: Key Players In The Ghanaian Mining Sector Company Monitor - AngloGold Ashanti - Gold Fields - Newmont Mining Global Assumptions, Q111 - Table: Global Assumptions, 2009-2015 - Table: Global And Regional Real GDP Growth And Exchange Rates, 2009-2012 - Table: Developed States' Real GDP Growth, 2009-2012 - Table: Emerging Markets' GDP Growth, 2009-2012 - Table: Consensus Forecasts, 2010 And 2011 Business Environment Ratings Methodology - Table: Mining Business Environment Indicators - Table: Weighting Of Components About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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