Ghana Mining Report

Providing expert analysis, independent forecasts and competitive intelligence on the mining.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Petrochemicals Risk Reward Index, Economic Forecasts, Company Profiles and Global, Regional and Country Industry Overviews.

Why you should buy this report

  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
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Ghana Mining Report
Product Price
$1,295.00

BMI View: Ghana's mining sector will remain heavily reliant on gold production and, as such, will face severe headwinds over the next few years as prices of the commodity come under increasing pressure globally.

Ghana Mining Industry Value
2014e 2015f 2016f 2017f 2018f 2019f
e/f= BMI estimate/forecast. Source= National Sources, BMI
Mining Industry Value, USDbn 3.32 3.38 3.45 3.35 3.32 3.29
Mining Industry Value, USDbn, % y-o-y 1.30 1.90 2.00 -2.87 -1.07 -0.79

Latest Developments & Structural Trends

  • Ghana's mining sector growth will be affected by a lack of diversity, as the country's gold sector accounts for about 90.0% of total mineral exports. An ongoing decline in global prices will therefore pose a major threat to the growth of Ghana's mining sector going forwards, with prices forecast to average USD1,120/USD over 2015-2019. Falling prices will put increased pressure on the profit margins of the country's gold miners, with many firms, including market leader Newmont Mining, moving to cut expenditure in the face of falling revenues. Despite gold price weakness, the country's mining sector will remain an important component of Ghana's economy through the next few years.

  • On June 17, 2015, Ghana's Chamber of Mines announced that the country's gold mining revenue declined by 17.4% y-o-y over 2014 to USD3.8bn. This supports our view that continued gold price weakness will force major players to cut costs and scale back operations. We forecast gold prices to average USD1,120/oz over 2015-2019, significantly lower than USD1,427/oz average over 2010-2014.

  • On April 21, 2015, miners at Newmont Mining's Akyem project resumed work after a four-day strike. The strike was the result of prolonged wage negotiations between Newmont and the Ghana Mineworkers Union (GMWU). The negotiations, regarding salary and collective service, took taken place between over an eight-month period. Both parties will call on the National Labour Commission to mediate and resolve the issue.

BMI Industry View
7
Table: Ghana Mining Industry Value
7
Latest Developments & Structural Trends
7
SWOT
8
Industry Forecast
10
Ghana Gold: Price Weakness To Subdue Growth
10
Latest Developments
10
Table: Ghana - Gold Production & Growth
10
Structural Trends
10
Government Shows No Sign of Easing Taxes
13
Industry Risk Reward Ratings
16
Ghana - Risk/Reward Index
16
Rewards
16
Industry Rewards
16
Country Rewards
16
Risks
16
Industry Risks
16
Country Risks
16
Africa: Major Risks Remain
17
Key Takeaways
17
Latest Revisions
18
Table: Africa - Mining Risk/Reward Index
19
Regulatory Development
20
Trade & Investment Risk Analysis
20
Commodities Forecast
22
Commodities Outlook
22
Table: BMI Commodities Price Forecasts
22
Competitive Landscape
23
Table: Africa - Financial Data, 2014
24
Company Profile
25
Global Company Strategy - Newmont Mining - Q1 2016
25
Company Strategy
27
Latest Results
28
Table: Newmont - Supply Chain Analysis
29
Financial Data
29
Table: Newmont Mining - Key Financial Data
29
Address Details
30
Global Company Strategy - AngloGold Ashanti - Q1 2016
31
Overview
32
Strategy
32
Risks
33
Latest Results
34
Table: AngloGold Ashanti - Key Financial Data
35
Regional Overview
36
Africa Mining: The Four Key Themes
36
Key Themes
36
Chinese Investment To Continue
36
Iron Ore Price Weakness To Curb Growth
37
Regulatory Uncertainty To Curb Growth
38
Mining To Remain Key Contributor To GDP
40
Methodology
41
Industry Forecast Methodology
41
Sources
42
Risk/Reward Index Methodology
43
Table: Weighting Of Indicators
44

The Ghana Mining Report has been researched at source and features BMI Research's mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Ghana Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Ghana.

Key Benefits

  • Use BMI's independent industry forecasts on Ghana to test other views - a key input for successful budgeting and planning in this mining market.
  • Target business opportunities and risks in Ghana's mining sector through our reviews of latest mining industry trends, regulatory changes and major deals, projects and investments in Ghana.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity), Key Projects Tables and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the mining sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2009-2013) and forecasts to end-2019 for key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Mining industry: Industry size (USDmn), real growth (%), % of GDP, employment (‘000), workforce as % of total workforce, average wage (USD).
  • Output: Production volumes (‘000 tonnes, carats etc.) for all major metals, minerals, ores and gems mined in each state, including bauxite, copper, gold, coal, lead, silver, tin, titanium, uranium, zinc etc.
  • Exports: Value of exports (USDmn) for all major metals, minerals, ores and gems mined in each state.
  • Commodity markets: Global demand, supply, stocks and benchmark prices (USD) for aluminium, copper, lead, nickel, tin, zinc, gold and steel.

BMI’s Mining Risk Reward Index

BMI’s Risk Reward Indices provide investors (mining companies and support service providers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Competitive Landscape Tables & Analysis

Comparative company analyses and tables detailing USD sales, % share of total sales, number of employees, year established, market cap/NAV, ownership structure, production and % market share.

Key Projects

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by metal/ore.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Mining reports are based on an extensive network of primary sources, such as multilateral organisations (UN, WB, IMF), national chambers of commerce and industry, national statistical offices, government ministries and central banks, and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.