Mining companies return 70.80% of mineral revenue to Ghana – Chamber of mines
The Ghana Chamber of Mines has debunked claims that mining companies in the country do not contribute to the economy.
According to Mr. Christopher Opoku Nyarko, Director of Analysis, Research, and Finance at the Chamber, mining companies returned 70.8% of mineral revenue to the state, amounting to approximately $4.99 billion.
Speaking at the National Inter-Mines First Aid and Safety Competition hosted by Asanko Gold Ghana Ltd, Mr. Opoku Nyarko, representing the Chamber’s CEO, Kenneth Ashigbey, highlighted the sector’s significant contribution to Ghana’s economy.
He noted that gold exports earned the country over $11.6 billion, accounting for 58.4% of total merchandise exports.
The Chamber’s director emphasized that the mining sector is a major source of foreign exchange for Ghana, with $9.063 million coming through the Bank of Ghana’s mandatory surrender requirements and $749 million through foreign exchange programs.
Additionally, the sector injected $3.3 billion into the economy and spent $5.5 billion locally, with $2.9 billion on local procurements, $1.5 billion in taxes, $600 million in wages, and $28 million on community development.
Mr. Opoku Nyarko also revealed that the mining sector recorded strong growth in 2024, with export earnings rising by 52.7% to $11.9 billion, representing 58.4% of Ghana’s total merchandise exports.
Story By: Marfo Justice/ KessbenNewsrom
