Business News Fri, 4 Mar 2022

BizTech: How Ghana’s extractive sector fared amidst COVID-19 pandemic

Ghana’s extractive sector which generates substantial revenue for the economy and mining firms was not spared from the impact of the Coronavirus pandemic.

Although Ghana maintained its place as the leading producer of gold in Africa in 2020, Ghana had a total mine production amounting to 150 metric tons for the period.

But the extractive sector, despite challenges from the pandemic, has somewhat suffered some losses.

To unpack the developments in the sector, Chief Executive Officer of Gold Fields, Group Chief Executive Officer of Gold Fields, Chris Griffith taking his taking on GhanaWeb TV’s BizTech program underscored the importance of Ghana’s political stability and governance which has allowed his firm to operate.

"Ghana is a very attractive destination to be in especially gold mining companies. For Gold Fields, Ghana makes 35 percent of the volume that we mine and so a very important part of our business is in Ghana"

"Of course, COVID-19 has a major impact on industries across the world and the mining industry is no exception. We have some impact from COVID-19 in terms of production, particularly in the early phase of 2020. In 2021 however we had fewer disruptions," the Gold Fields CEO said.

Head of Gold Fields West Africa, Joshua Mortoti, on his part said it is important for mining companies in the country to continue to implement key measures to ensure mining activities are sustainable, responsible and seek to protect lives and the environment.

Watch the video below:

Source: www.ghanaweb.com
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