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 gold output will slow as weak gold prices will force miners to cut costs and restructure organisations. In addition, the country's regulatory environment and ongoing power shortages will limit the sector's growth outlook.

Ghana Mining Industry Value
2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: National sources, BMI
Ghana Mining Industry Value, USDbn 3.38 3.45 3.33 3.43 3.54 3.67
Ghana Mining Industry Value, USDbn, % y-o-y 1.90 2.00 -3.57 3.05 3.41 3.39

Latest Developments & Structural Trends

  • On April 12, Cardinal Resources Ltd (Cardinal) added two more drill rigs at the firm's Namdini project ahead of a Q3, 2016 exploration target announcement. Currently, Cardinal has three projects in Ghana, namely the Namdini, Bolgatanga and Subranum mines.

  • Gold mining firm Randgold Resources has ended a contract for redeveloping AngloGold Ashanti's Obuasi gold mine in Ghana. The move follows efforts by both the companies to improve the project's returns. The companies had announced a deal in September 2015 to form a joint venture to redevelop and operate the mine. Randgold had agreed to lead and fund a development plan designed to rebuild the operation.

  • We have raised our gold price forecasts for 2016 to USD1,150/oz from USD1,000/oz. A recalibration of expectations for the global monetary policy trajectory by investors and equity market turmoil has combined to create a more positive environment for gold prices than we previously anticipated ( see: 'Gold: Upward Revisio n On Monetary Policy Shift', February 12).We have revised up our production forecasts and expect output to grow from 3.67 million ounces (moz) in 2016 to 3.93moz by 2020, which would represent an average annual growth of 1.6% during this period.

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
17
Regional Overview
17
Table: SSA - Government Involvement In Mining Sector
22
Regulatory Development
24
Trade & Investment Risk Analysis
24
Commodities Forecast
26
Commodities Outlook
26
Table: BMI Commodities Price Forecasts
26
Competitive Landscape
27
Table: Africa - Financial Data, 2014
28
Company Profile
29
Newmont Mining
29
Table: Newmont Mining - Key Financial Data
33
Global Company Strategy - AngloGold Ashanti - Q2 2016
35
Overview
36
Strategy
36
Risks
37
Latest Results
38
Table: AngloGold Ashanti - Key Financial Data
38
Regional Overview
39
Africa: Major Risks Remain
39
Key Takeaways
39
Latest Revisions
40
Table: Africa - Mining Risk/Reward Index
42
Methodology
43
Industry Forecast Methodology
43
Sources
44
Risk/Reward Index Methodology
45
Table: Weighting Of Indicators
46

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.