Government has joined forces with OCP Group, a Moroccan company, to complete the front-end engineering design (FEED) for a US$1.3billion fertiliser complex at Takoradi, in a bid to diversify the economy and reduce reliance on oil and gas resources.

The deputy Minister of Lands and Natural Resources, George Mireku Duker, has lauded the significant progress of the natural resource governance framework in recent years, citing regulatory reforms – particularly institution of the Fiscal Responsibility Act and Minerals Income Investment Fund Act.

The total volume of gold produced declined from 4.577 million ounces in 2019 to 4.023 million ounces in 2020, representing a downturn of 12 percent, the 2022 Extractive Industries Transparency Initiative (EITI) Mining & Oil and Gas report has revealed.

The 2022 Extractive Industries Transparency Initiative (EITI) Mining & Oil and Gas report has revealed that the mining and quarrying sector’s share in Ghana’s Gross Domestic Product (GDP) reduced marginally from 7.8 percent in 2019 to 7.6 percent in 2020.

Kumasi, Sept. 23, GNA – The Ghana Extractive Industries Transparency Initiative (Ghana EITI) has said that the enormous role mining, oil and gas sectors play in the natural resource sector calls for more transparency. It also called for judicious management of revenues from these strategic areas, and reiterated the need for natural resource revenues to be publicly disclosed to promote transparency and accountability.

Accra, 14th April 2022 - The Ministry of Finance and the Ghana Extractive Industries Transparency Initiative (GHEITI) in collaboration with GIZ have launched the 2019 Reports for the Mining and Oil and Gas Sectors in Accra. The objectives of GHEITI Reports were to create the required public awareness, generate interest and debate on the issues raised in the reports, and pave way for stakeholder’s engagements on the reports as required by the Extractive Industries Transparency Initiative (EITI) Standard.

Accra, March 11, 2020.

The Ministry of Finance and the Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) have produced and will today, formally launch the country’s 2017/18 Mining and Oil/Gas EITI reports, published on December 31 st , 2019. The MSG is a tripartite body made up of Government, Industry and Civil Society, with the responsibility of steering the affairs of Ghana’s EITI. The mining report brings to fourteen (14), the total number published since Ghana acceded to the initiative in 2003. For oil and gas, the 2017/18 repot is the seventh (7 th ) since the initiative was expanded to cover the sector.

GOLD FIELDS (GH) LTD TARKWA & DAMANG

Gold Fields (Gh) Ltd and Goldfields Abosso Ltd own 90% stake in their respective mines. They are both wholly owned by Gold Fields Ghana Holdings (BVI) which is also an indirect subsidiary of Gold Fields Limited, South Africa. Ghana Government retains the remaining 10% stake. Gold Fields (Gh) Ltd S.A has a primary listing on the Johannesburg Stock Exchange (JSE:GFI), with secondary listings on the New York Stock Exchange (NYSE:GFI”), NASDAQ Dubai Ltd (GFI) , Euronext (“ NYX:GFLB”) in Brussels and the Swiss Exchange.

MINISTRY OF FINANCE

CONSULTANCY SERVICES TO DEVELOP GHANA EXTRACTIVE INDUSTRY TRANSPARENCY INITIATIVE (GHEITI) 2017/18 RECONCILIATION REPORTS (FIRM SELECTION) REQUEST FOR EXPRESSION OF INTEREST (EOI) PACKAGE NUMBER: GH-EITI-112471-CS-CQS

BACKGROUND

The Extractive Industries Transparency Initiative (EITI) is a global standard for improving transparency and accountability in the oil, gas and mining sectors.