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The 2022 Extractive Industries Transparency Initiative (EITI) Mining & Oil and Gas report has shown that proceeds from the exportation of minerals shot up from US$ 6.678 billion in 2019 to US$ 6.998 billion in 2020.
The report, jointly launched by the Minister of State at the Ministry of Finance, John Kumah, and the Deputy of Minister of Lands and Natural Resources responsible for Mining, George Mireku Duker, highlighted that the significant increment translates into a 4.8% year-on-year expansion in mineral revenue.
Crude oil contributed 20.1% while cocoa also contributed 16.1%.
The mining and quarrying sector’s share in Ghana’s GDP reduced marginally from 7.8 per cent in 2019 to 7.6 per cent in 2020.
On the production of gold, the total volume of the commodity reduced from 4.577 million ounces in 2019 to 4.023 million ounces in 2020.
This represented a sharp decline of 12 per cent.
The volume of manganese produced by the Ghana Manganese Company (GMC) dropped from 5.383 million tonnes in 2019 to 2.358 million tonnes in 2020, representing a decrease of 56 per cent.
The volume of bauxite produced increased from 1.116 million tonnes in 2019 to 1.162 million tonnes in 2020, recording a 4 per cent year-on-year growth in its output.
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