Ghana Mining Report Q3 2016

Date: June 1, 2016
Pages: 50
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Ghana's gold output will slow as weak gold prices will force miners to cut costs and restructure organisations. In addition, the country's regulatory environment and ongoing power shortages will limit the sector's growth outlook.

Latest Developments & Structural Trends
  • On April 12, Cardinal Resources Ltd (Cardinal) added two more drill rigs at the firm's Namdini project ahead of a Q3, 2016 exploration target announcement. Currently, Cardinal has three projects in Ghana, namely the Namdini, Bolgatanga and Subranum mines.
  • Gold mining firm Randgold Resources has ended a contract for redeveloping AngloGold Ashanti's Obuasi gold mine in Ghana. The move follows efforts by both the companies to improve the project's returns. The companies had announced a deal in September 2015 to form a joint venture to redevelop and operate the mine. Randgold had agreed to lead and fund a development plan designed to rebuild the operation.
  • We have raised our gold price forecasts for 2016 to USD1,150/oz from USD1,000/oz. A recalibration of expectations for the global monetary policy trajectory by investors and equity market turmoil has combined to create a more positive environment for gold prices than we previously anticipated (see: 'Gold: Upward Revision On Monetary Policy Shift', February 12).We have revised up our production forecasts and expect output to grow from 3.67 million ounces (moz) in 2016 to 3.93moz by 2020, which would represent an average annual growth of 1.6% during this period.
BMI Industry View
  Table: Ghana Mining Industry Value
Latest Developments & Structural Trends
Industry Forecast
Ghana Gold: Growth To Be Modest
Latest Developments
  Table: Ghana - Gold Production & Growth
Structural Trends
Government Shows No Sign of Easing Taxes
Industry Risk Reward Ratings
Ghana - Risk/Reward Index
Industry Rewards
Country Rewards
Industry Risks
Country Risks
Africa - Risk/Reward Index
Key Takeaways
Latest Revisions
  Table: Africa - Mining Risk/Reward Index
Regulatory Development
Trade & Investment Risk Analysis
Commodities Forecast
Commodities Outlook
  Table: BMI Commodities Price Forecasts
Competitive Landscape
  Table: Africa - Financial Data
Company Profile
Global Company Strategy - AngloGold Ashanti - Q3 2016
  Table: Select Commodities - Price Forecasts
Company Strategy
  Table: AngloGold Ashanti - Key Financial Data
Global Company Strategy - Newmont Mining - Q3 2016
  Table: Select Commodities - Price Forecasts
  Table: Newmont Mining - Key Projects
  Table: Newmont Mining - Key Financial Data
Regional Overview
  Table: SSA - Government Involvement In Mining Sector
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Weighting Of Indicators
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