Proceeds from the export of minerals increased to $6.998bn – Report

The 2022 Extractive Industries Transparency Initiative (EITI) Mining & Oil & Gas report revealed that export revenues from minerals increased from US$ 6.678 billion in 2019 to US$ 6.998 billion in 2020.

This represents a year-over-year increase of 4.8% in mineral revenues, according to the report.

In addition, the export of minerals accounted for 48.4% of the country's total export revenue in 2020.

In the same year, the relative contributions of crude oil and cocoa were 20,1 percent and 16,1 percent, respectively.

The mining and quarrying sector's contribution to Ghana's gross domestic product decreased from 7.8 percent in 2019 to 7.7 percent in 2020.

The total quantity of gold produced decreased by 12 percent, from 4.577 million ounces in 2019 to 4.023 million ounces in 2020. The quantity of manganese produced by the Ghana Manganese Company (GMC) decreased by 56 percent, from 5.383 million tonnes in 2019 to 2.358 million tonnes in 2020.


The amount of bauxite produced increased by 4 percent from 2019 to 2020, from 1.116 million tonnes to 1.162 million tonnes.

Today, the Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) launched the country's 2020 Mining and Oil/Gas EITI reports, which will be released on December 31, 2022. The MSG is a tripartite body comprised of Government, Industry, and Civil Society charged with steering GHEITI's affairs. The World Bank funded the production of the reports through the Extractive Global Programmatic Support (EGPS) Grant. The compilation of the 2020 report takes the total number of mining reports compiled and published since Ghana joined the initiative in 2003 to nineteen (19). The 2019 report is the tenth (10th) since the initiative was expanded to include the oil and gas sector in 2010.

The reports, which are published in accordance with the 2019 EITI Standard, include contextual information such as the summary description of the legal framework and fiscal regime, the sector's contribution to the economy, production and export data, state participation in the extractive industries, revenue allocations, sustainability of revenues, license registers and license allocation, and a number of other relevant data.


The reports were launched jointly by the Minister of State at the Ministry of Finance, who is also the Champion for GHEITI, and the Deputy Minister of Lands and Natural Resources in charge of Mining, the Honorable George Mireku Duker.