Ghana’s mining industry accounts for 5% of the total GDP in the country and the minerals export makes up 37% of the total country’s export. The gold industry is reported to contribute as much as 90% to the total mineral exports. This has made the main focus on the mining industry in the country to be set on gold.
Top 10 Mining Companies in Ghana
The country is the largest producer of gold in Africa and also a major exporter of diamonds, manganese, and bauxite.
Mining Operation in Ghana
The bulk of the mining operation started in the ’90s, although the country had been exploring petroleum since the 19th century.
Mining operations in Ghana are mostly run by foreign countries, although the government has some stake in some of the companies and also own some out rightly. There are also some indigenous mining companies in Ghana, but they are mostly managed by expatriates.
In the past few years, the mining sector in the country has experienced huge growths, which also increased participation in the industry with many more players entering the ever competitive mining industry.
Ghana being the largest producer of gold on the continent has been a thriving ground for investors across Africa and the rest of the world.
Gold Mining In Ghana
Some of the largest gold mining companies in the world are sited in Ghana. Companies as Newmont, Gold Fields, Kinross Gold, and AngloGold are one of the largest employers of labour in the country.
This article will discuss the top 10 mining companies in Ghana.
1. Gold Fields Tarkwa Mine
This mine is considered to be the largest mine in Ghana. In the year 2017, they recorded an annual output of 566,400 ounces of gold. This was a slight decrement in what was recorded in the year 2016, which was 568,036. But nonetheless, the country has been the largest producer of the precious metal in the country since the year 2015.
2. Newmont-Akyem Mine
This is considered as the 2nd largest mine in the country and they have maintained the position since 2014. In 2017, Newmont recorded a total output of about 473,000 ounces of gold.
3. Newmont-Ahafo Mine
This is the 3rd largest mine in Ghana with most of its gold production coming from the surface mining operations. In the year 2017, they had an output of about 349,000 ounces of gold and according to reports from the company, the underground mining operation of the mine is yet to commence.
4. Adamus Resource
This is an Australian mining company with a branch in Ghana. They have their headquarters in West Perth, Australia. They own 90% of the Nzema Gold Project and the annual gold production of the company is about 100,000 ounces.
5. Anglo Ashanti Limited
In the year 2004, Anglo Gold and Ashanti Gold Mines Coop formed a merger to establish the Anglo Ashanti Ltd. The company also owns the Obuasi and Iduapriem mines and they have operations in more than 21 countries across the globe.
6. Ghana Manganese Company Ltd
This company is among the top producers of the mineral manganese in the world. It is a company jointly owned by the Ghanaian government and Consinim. The government reportedly owns 10% of the stake in the company while Consimin owns the remaining 90%.
They operate the largest deposit of manganese in the country, at the NsutaManganes Mine. The company at the same time has the mining right of an area that spans 175 kilometers around the Nsuta Region.
They have their headquarters in Turkwa, West Ghana.
7. Perseus Mining Ltd
This is another Australian mining company with operations in Ghana. They run the Edikan Gold Mine and they have produced, since the year 2012, over 200,000 ounces of gold.
8. Asanko Gold Mine
The Asanko gold mine operates mainly the surface mine operation and they are located within the Asankragwa belt. The company was established in the year 2016. In the year 2017, they made a total output of about 200,000 ounces of gold. They are however considered as the 7th largest gold mine in the country.
9. Abboso Gold Fields
The Abboso Gold Field operates as a surface mine and they are located in the Western Region of the country. In 2017 they had a total output of 143,586 ounces of gold. The company is currently carrying out a cutback project to discover high grades. As a result of the decline in its production level, the company is rated the 8th largest in Ghana.
10. Golden Star Mines
This mining company combines both underground and surface mining operations. The company reported a massive leap in production in the year 2017. According to reports, the total ounces of gold produced in 2017 was 130,331 compared to 89,673 ounces produced in 2016.
The company also reported that the increment they experienced in their output was as a result of production from the Prestea and Mampon deposits.
With the production level, the company is being rated as the 10th largest in Ghana.
In the year 2017, Kinross Mine experienced a tremendous increase in their annual output as a result of the constant supply of energy from the national grid. They operate both the underground and surface grid and this resulted in the output level of about 246,027 ounces in the same year. They are currently rated as the 4th largest mine in Ghana.
12. Paramount Mining
They are involved in Diamond mining in Ghana. In the year 2006, they entered into a partnership with Leo Shield Exploration so they could get involved in the Osenase project, which reportedly covers a total area of about 330-kilometer square.
In that same year, they were able to mine a total number of 83 diamonds, which according to reports weighed about 660mg (3.3 Carats).
13. Kosmos Energy
Kosmos Energy is involved in the exploration of petroleum and they have operations in the West Cape Three Points Block with about 86.5% working interest in the exploration point.