Ghana's mining industry faces potential shutdown within a decade without government investment

The Ghana Chamber of Mines is warning mining could gradually grind to a halt in the next decade if government fails to make the requisite investment in the sector.

Data from the Ghana Chamber of Mines revealed the mining sector which currently employs 11,284 people contributed GHC7 billion to the country’s revenue in 2022.

Speaking to journalists at the Chamber’s Editors Forum in Accra on Tuesday (31 October), the president of the Chamber, Joshua Mortoti said the Ghana currently lacks the requisite exploration pipeline development.

“…But ask yourself, when were Cardinal Resources, Azuma Resources, Ahafo North Resource all identified? 20 years ago, so where are the resources that were identified a year and five years ago? zero.

“Those are the questions we need to be asking ourselves, and not just whitewashing the industry, this industry will die if we don't have the needed exploration pipeline development.”

“As we are speaking, some of our mines are shutting down, in the 2-3 years, you will see some of our mines shutting, what is the replacement? So it is not a surprise when you hear mining firms shutting down, our industry is not in the right place,” Mortoti said.

About Ghana Chamber of Mines

The Ghana Chamber of Mines is the main minerals industry association in Ghana. The Chamber represents the collective interests of companies involved in mineral exploration, production and processing in Ghana.

Its activities are entirely funded by its member companies, which produce over 90 per cent of the Ghana’s mineral output.

The Chamber has represented the industry’s interests since 1928.