As if overtaking Ghana as the number one producer of cocoa is not enough, Ivory Coast is now threatening to usurp Ghana’s position as the number one mining hub in West Africa.
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.
Chief Executive Officer of the Ghana Chamber of Mines, Suleimana Kone says Ghana’s reputation as the second biggest mining hub in Africa is fast declining.
“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.”
Mr. Kone expressed worry about the declining levels of new investments and exploration. According to him the future of mining in Ghana is currently unclear.
“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.