According to the Ghana Chamber of Mines, Ghana has lost competitiveness in the mining industry to Ivory Coast and Burkina Faso.
This has been attributed to a reduction in investment in exploration, coupled with reforms in the mining code and security issues posed by illegal mining activities.
According to recent research by the Ghana Chamber of Mines, Burkina Faso and Cote d’Ivoire have overtaken Ghana in the volumes of investments in new exploration.
“Ghana has a reputation, worldwide, of being the biggest mining hub in West Africa, and the second in Africa. However, latest developments have gradually eroded this standing and we can’t take it for granted.”
“One area of concern for us is exploration. We are not seeing that exploration spend and activity which will assure us of stable mining activity and the value chain benefits for our economy in the future”, Suleimana Kone added.