Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The country is the largest producer of gold in Africa and also a major exporter of diamonds, manganese, and bauxite.
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 companies, although the government has some stake in some of the companies and also owns some outright. 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 growth, which has 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.
Top Mining Companies In Ghana
Some of the largest gold mining companies in the world are located in Ghana. Companies such as Newmont, Gold Fields, Kinross Gold, and AngloGold are some of the largest employers of labor in the country.
1. Anglo Ashanti Limited
In the year 2004, Anglo Gold and Ashanti Gold Mines Co-op formed a merger to establish Anglo Ashanti Ltd. The company also owns the Obuasi and Iduapriem mines, and they have operations in more than 21 countries across the globe.
2. 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 decrease from what was recorded in the year 2016, which was 568,036. Nonetheless, the country has been the largest producer of the precious metal in the country since the year 2015.
3. Newmont-Akyem Mine
This is considered 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.
4. Newmont-Ahafo Mine
This is the 3rd largest mine in Ghana, with most of its gold production coming from 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.
5. 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.
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 Nsuta Manganes Mine. The company, at the same time, has the mining rights 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 as a 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 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 were 130,331 compared to 89,673 ounces produced in 2016. The company also reported that the increment they experienced in their output was a result of production from the Prestea and Mampon deposits.
