Ghana is endowed with substantial mineral reserves and has a well-established mining industry with a history of over 200 years. The key minerals mined in the country include gold, manganese, diamond, silver, granite and bauxite. Ghana also has major unexploited deposits of limestone, iron ore, quartz and lithium. Gold is the most commercially exploited mineral, accounting for over 90% of mineral revenues. Ghana has recently overtaken South Africa as the largest gold producer in Africa and consistently ranks among the top 10 global producers of gold.

The mining industry has over time, assumed strategic importance to the economic development of Ghana. The treatment of mineral revenue has traditionally been part of the Government’s consolidated funds. This means that there are no long-term assets to compensate for the depletion of finite mineral resources in Ghana.

In addition, the top tier mining sector, is dominated by a few multinational majors with indigenous players largely restricted to the small-scale mining sector. The Government of Ghana believes that local participation in the top tier mining sector and across the value chain can increase remarkably with the right financial investments and support.