Ghana Extractive Industry Transparency Initiative

The Revised Institutional Framework For The Ghana Extractive Industries Transparency Initiative (GHEITI)

EXECUTIVE SUMMARY

BACKGROUND

In 2003, Ghana signed onto the Extractive Industries Transparency Initiative (EITI). By this singular action Ghana joined the list of countries implementing EITI globally. As an EITI implementing country, Ghana is required to apply the principles of the initiative to its extractive sector(s).

US$1.3bn fertiliser complex to be operational in 3yrs

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.

Total volume of gold produced declines – 2022 EITI report

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.

Regulatory reforms augur well for resource governance

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.

34,363 people were employed by large-scale mines in Ghana – 2022 EITI Mining & Oil/Gas Report

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.

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