Business Monitor International


Ghana Mining Report

Published 03 September 2014

  • 73 pages
 
$1,295.00
Ghana Mining Report

BMI View: Ghana is set to remain Africa's second-largest gold producer, after South Africa, as investment continues to flow into the mineral-rich country. The country boasts one of the most favourable business environments in the region, with a democratic and stable government, which contrasts sharply with many of its resource-rich neighbours. Ghana's mining sector is set to reach US D3.8bn in 2018, up from USD3.3bn in 2013, as bauxite and gold production see modest increases. We expect gold to be the main driver of growth, but see bauxite playing a growing role.

Output Growth To Converge
Ghana - Production Growth (% change y-o-y)

Ghana contains the second largest area of gold deposits in Africa, after South Africa. It 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 output of the latter has seen significant declines over the past three years as mines have been closed.

Table of Contents

BMI Industry View
7
SWOT
8
Industry Forecast
9
Gold: Headwinds For Gold Miners
9
Government Measures To Increase Difficulties
11
Table: Gold Production Forecast (Ghana 2010-2018)
12
Bauxite: Sector Feels Benefits Of Chinese Investment
12
Table: Bauxite Production Forecast (Ghana 2010-2018)
14
Industry Risk Reward Ratings
15
Risk/Reward Ratings
15
Botswana On Top
16
Table: Africa - Mining Risk/Reward Ratings
17
South Africa: Still Ranking Highly
17
Lower Gold Prices Reduce Rewards
18
Risk/Reward Ratings
20
Rewards
20
Industry Rewards
20
Country Rewards
20
Risks
21
Industry Risks
21
Country Risks
21
Table: Mining Industry Forecasts (Ghana 2010-2018)
22
Regulatory Development
23
Chinese Operations Under Threat
24
Table: Ghana - Political Overview
25
Commodities Forecast
26
Commodity Strategy
26
Iron Ore: Chinese Stimulus Not A Game Changer
26
Steel: Gradual Rationalisation Insufficient To Boost Prices
28
Aluminium: Recent Rally Unlikely To Persist Into H214
29
Copper: Bearish Forecast Appears Well Placed
30
Lead: Picking Up Autos Sector Tailwinds
31
Nickel: Recent Rise To Fall Back In H214
32
Zinc: Potential Test Of Resistance In Coming Weeks
34
Table: Select Commodities - Performance & BMI Forecasts
36
Competitive Landscape
37
Table: Africa - Financial Metrics
38
Company Profile
39
AngloGold Ashanti
39
Overview
41
Strategy
42
Risks
43
Latest Results
43
Table: AngloGold Ashanti - Key Financial Data
44
Newmont Mining
45
Company Strategy
46
Recent Financial Data
47
Financial Data
48
Table: Newmont Mining - Key Financial Data
48
Address Details
48
Regional Overview
49
Mining - Africa Overview
49
Key Opportunities
49
1
49
2
51
3
52
Key Challenges
53
1
53
2
54
3
55
Table: Africa - Key Mining Regulatory Developments
56
Global Industry Overview
58
Challenges
58
Table: Mining - Select M&A Deals
62
Cause For Optimism
65
Methodology
72
Industry Forecast Methodology
72
Sources
73
Risk/Reward Rating Methodology
74
Table: Weighting Of Indicators
76

The Ghana Mining Report has been researched at source and features Business Monitor International (BMI)'s mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Ghana Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Ghana.

Key Benefits

  • Use BMI's independent industry forecasts on Ghana to test other views - a key input for successful budgeting and planning in this mining market.
  • Target business opportunities and risks in Ghana's mining sector through our reviews of latest mining industry trends, regulatory changes and major deals, projects and investments in Ghana.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity), Key Projects Tables and Competitive Landscape Tables.

Coverage

Executive Summary

Summary of BMI's key forecasts and industry analysis, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments and key changes in the regulatory environment.

Business Environment Ratings

BMI's Mining Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (mining companies and support service providers) in the regional mining market. The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Ratings products.

Key Projects

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by metal/ore.

BMI Industry Forecasts

Historic data series (2009-2012) and forecasts to end-2017 for all key industry and economic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast. Indicators include:

  • Mining Industry: Industry size (US$mn), real growth (%), % of GDP, employment ('000), workforce as % of total workforce, average wage (US$).
  • Output:Production volumes ('000 tonnes, carats etc.) for all major metals, minerals, ores and gems mined in each state, including bauxite, copper, gold, coal, lead, silver, tin, titanium, uranium, zinc etc.
  • Exports: Value of exports (US$mn) for all major metals, minerals, ores and gems mined in each state .
  • Commodity Markets: Global demand, supply, stocks and benchmark prices (US$) for aluminium, copper, lead, nickel, tin, zinc, gold and steel.

BMI Macroeconomic Forecasts

BMI forecasts to end-2017 for all headline macroeconomic indicators, including real GDP growth (%), inflation (%), fiscal balance (% of GDP), trade balance (US$bn), current account (US$bn) and external debt (US$bn).

Competitive Landscape Tables & Analysis

Comparative company analyses and tables detailing by US$ sales, % share of total sales, number of employees, year established, market cap/NAV, ownership structure, production and % market share.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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