ICMM and the Ghana Chamber of Mines have released a new report on the socioeconomic contributions of mining in Ghana and ways these might be enhanced. The report undertaken by Steward Redqueen and the African Center for Economic Transformation estimates the socioeconomic impact of the large-scale gold mining sector in Ghana from 2010 to 2022.
The report does this by presenting the findings of applying the life cycle model (Module six) of ICMM’s Mining's Partnership for Development Toolkit to Ghana. This is a follow-up report to the Ghana country case study (ICMM 2007).
The report is presented in four sections:
Section 1: Ghana’s economy and the role of mining
Section 2: Macroeconomic life cycle contributions of mining
Section 3: Local views
Section 4: Emerging priorities for action.
The report identifies that the sample of seven mines included in the study are projected to:
- employ 110,000 people directly and indirectly annually
- support 15 indirect jobs for every mining company job
- provide US$1.60 to the Government of Ghana for every US$1 of mining company profits
- support 105 jobs for every US$1 million increase in local procurement
The study also identifies five priority areas for action by relevant stakeholders in Ghana including:
- improvements to the mining policy framework
- greater clarity on the management and use of mineral revenues
- development of a comprehensive national action plan to increase local procurement
- development of a strategic framework for social investment aligned with local authority spending
- capacity building among different stakeholders