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Home Africa

Ghana still Africa’s largest gold producer in 2021 – Fitch

Mark-Anthony Johnson by Mark-Anthony Johnson
November 10, 2020
in Africa, FA, Ghana, Gold, Mining, Report
Reading Time: 1 min read
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Ghana Mine Closure – Case Study
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Ghana will maintain its position as Africa’s largest gold producer in 2021, after surpassing South Africa in terms of gold production in 2019, according to an assessment of the gold mining industry in Africa by Fitch Solutions.

Fitch expects gold production in Ghana to achieve 9.0% growth year-on-year in 2021, reaching 4.7 million ounces of gold.

AngloGold poured its first gold at the Obuasi mine in December 2019 during Phase 1 of the project, and in October 2020 the firm reported that Phase 2 of the project is 68.4% complete. While the Obuasi project targets a ramp up to 2,000 tonnes per day (tpd), operational rates have been limited to 60.0-70.0% of capacity throughout much of 2020 amid Covid-19-induced labour shortages.

Also read: Ghana Parliament to review gold royalties IPO deal after probe

Sub-Saharan Africa gold mine production estimate/forecast

Source: USGS, Fitch Solutions via Norvan Reports

According to the report, the country’s expected substantial growth next year will come on the back of achievement of steady operations at Phase 2 of AngloGold Ashanti’s Obuasi Project. This will sustain the Gross Domestic Product (GDP) growth rate of the mining sub-sector.

https://lnkd.in/e_zAPQB

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Tags: AngloGold AshantiFeatureGhanaGhana to maintain position as Africa’s largest gold producer in 2021goldGold Minegold producerMark-Anthony JohnsonMiningObuasiганаغاناガーナ加纳
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Mark-Anthony Johnson

Mark-Anthony Johnson

MARK-ANTHONY JOHNSON is the founder and CEO of JIC Holdings, an innovative private holding company established in 2009 which he has built into an international asset and investment management company with offices, associates and investments around the globe. This followed the success of the JIC Group which he founded in 1985. He was educated in the UK at Mill Hill School and then achieved a BA (Hons) in Business and International Finance at University of Westminster. Mark-Anthony’s vision has long been towards emerging and frontier markets with particular emphasis on Africa, Latin America and the Caribbean and his philosophy can be summed up in the phrase “knowledge is power”. Mark-Anthony is also enthusiastic about the latest communication tools, which he uses intensively to keep in touch with up to the minute data. With a deep-rooted connection to the African continent, Mark-Anthony has been passionate about developments in Africa for over 30 years. He has worldwide interests in mining, infrastructure, power, electricity, shipping, commodities, agriculture and fisheries and is currently looking to develop farms across Africa. Mark-Anthony has a vision for a future Africa as the breadbasket of the world. For many years Mark-Anthony has been active on the ground in Africa through his charitable foundation, the Johnson Foundation. Created in 1989, it first provided assistance to people in his ancestral home country, Sierra Leone, even before the civil war. Once the war started, his aid was even more necessary and became focussed on Mark-Anthony’s major concerns for Africa -education, clean water and medical assistance. Over the years, the Foundation’s work has been extended into many parts of Sub-Saharan Africa and has been instrumental in setting up new clinics and rehabilitating villages, schools, places of worship, water facilities etc.

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