Business Monitor International


Ghana Mining Report

Published 20 February 2014

  • 73 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Ghana Mining Report

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$789mn in 2018, up from US$698mn 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 Volatility To Reduce Drastically
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 diamond output has been affected by the 2011 closure of Ghana Consolidated Diamonds.

Table of Contents

BMI Industry View
7
SWOT
8
Industry Forecast
9
Ghana Gold: Headwinds For Gold Miners
9
Government Measures To Increase Difficulties
11
Table: Ghana - Gold Production (million oz)
12
Bauxite: Sector Feels Benefits Of Chinese Investment
12
Table: Ghana - Bauxite Production
14
Industry Risk Reward Ratings
15
Risk/Reward Ratings
15
Lower Gold Prices Reduce Rewards
15
Table: Africa - Mining Risk/Reward Ratings
16
Reduced Rewards For Copper Mining
16
Mixed Rankings For West Africa
17
Substantial Rewards In Southern Africa
17
Lack Of Uniformity In Regulatory Development
18
Political & Infrastructure Risks Lurk
19
Country Highlights
20
South Africa: Deteriorating Environment For Mining Companies
20
Mozambique: Mining Sector Set To Boom
21
Botswana: All Round Outperformer
21
Market Overview
22
Gold And Bauxite Set For Modest Growth
23
Risks To Outlook
24
Table: Ghana - Mining Industry Value And Production
24
Regulatory Development
25
Chinese Operations Under Threat
26
Table: Ghana - Political Overview
27
Commodities Forecast
29
Commodity Strategy
29
Aluminium: Continued Short-Term Weakness
32
Copper: Recent Strength Doesn't Change Our View
32
Nickel: Recent Strength To Subside
34
Zinc: Price Momentum To Continue
36
Table: Select Commodities - Performance & BMI Forecasts
38
Competitive Landscape
39
Company Profile
40
AngloGold Ashanti
40
Overview
41
Strategy
42
Table: AngloGold Ashanti - Key Financial Data
43
Newmont Mining
45
Company Strategy
46
Latest Financial Results
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
50
3
51
Key Challenges
52
1
52
2
53
3
54
Table: Africa - Key Mining Regulatory Developments
55
Global Industry Overview
56
Methodology
68
Industry Forecast Methodology
68
Sources
69
Risk/Reward Rating Methodology
70
Table: Mining Risk/Reward Ratings Indicators
72
Table: Weighting Of Indicators
73

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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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc