Ghanaian Mineral Reserves

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Formerly known as the Gold Coast, Ghana is rich in minerals; the major ones currently being mined are gold, manganese, bauxite and diamonds.[1] The knowledge of mineral reserves is constantly increasing - under the Mining Sector Support Programme (MSSP) being implemented with European Union financial and technical assistance, around one-third of the surface area of Ghana is being covered with airborne geophysical surveys, whilst detailed geological field-mapping continues at the nation’s major mining areas. [2] The hope is that a more comprehensive data-base of information will attract investors.[2]

Gold

The main focus of the Ghanaian mining sector is the exploration and extraction of gold reserves, since gold contributes to over 90 percent of all mineral exports.[3] There is an estimated 2 billion ounces of unmined gold within Ghana. [4] Mining is concentrated within two principal areas of gold resources; the Ashanti Gold Belt and the Sefwi-Bibiani Gold Belt. These are both situated on the western side of Ghana. The Ashanti Gold Belt is home to the largest gold mine in Ghana, Tarkwa, which is mined by Gold Fields Ltd.[5]

Ghana’s gold belts lie in the wider geological structure of the Proterozoic Birimian Belt that runs through West Africa, hosting almost all of the known gold deposits in Ghana, Burkino Faso and the Ivory Coast.[3]

According to the Ghana Chamber of Mines, Gold Production was 2.97 million ounces in 2010.[6] It is estimated that the Ashanti Gold Belt has a total proven gold reserve of over 168 million ounces,[7] with the Sefwi-Bibiani Gold Belt having a proven reserve of over 17 million ounces.[8]

Other Mineral Reserves

  • Manganese - estimated 49 million tons unproven reserves, 4.9 million tons proven reserves.[9] 2010 production was 1.2 million tons.[6]
  • Bauxite - estimated 400 million tons unproven reserves, 18,911,900 tons proven reserves.[9] 2010 production was 512,208 tons.[6]
  • Diamonds - estimated 100 million carats, 8,728,500 carats proven reserves.[9] 2010 production was 308, 679 carats.[6]

References

  1. "Ghana Transparency Snapshot" Revenue Watch Institute, retrieved 13 February 2012.
  2. 2.0 2.1 "Geology and Mineral Deposits" Small Scale Mines, retrieved 13 February 2012.
  3. 3.0 3.1 "Mining in Ghana – Overview" Mbendi Information Services, retrieved 13 February 2012.
  4. "Crushing in Ghana" Shanghai Zenith Company, retrieved 13 February 2012.
  5. "Gold Mining in Ghana" Gold Investing News, retrieved 12 February 2012.
  6. 6.0 6.1 6.2 6.3 "Ghana's Gold Production Rose 1.4 percent in 2010, Revenue Up 27.5 percent" China Mining, 9 March 2011.
  7. "Our Projects in West Africa" El Maniel International, retrieved 14 February 2012.
  8. "Bibiani Mine on Track" Mining Review, 31 March 2008.
  9. 9.0 9.1 9.2 "Ghana Mineral Overview" SBM Mining and Construction Machinery, retrieved 14 February 2012.