Africa Connected

“There should be an appreciation of an investment from a foreign company"

With mining, and Gold in particular playing such an important part in Ghana's economy, Nikiwe Bikitsha took the opportunity of a visit to meet with an AngloGold Ashanti Ghana representative to chat about issues in the sector.

Anglogold Ashanti have been in Ghana for twelve years. During that time they have reduced their operations down to just two key mining assets - Obuasi Mine located in Ghana’s Ashanti Region and Iduapriem, an open pit mine located in the western region of Ghana.

Unfortunately in February, Obuasi was invaded by illegal miners and efforts to have them vacate the mine have thus far been fruitless.

A "Movement Committee" has been set up by the Ghanaian government to ensure the relocation of illegal miners, but according to Kelepile Dintwe, Vice President for Sustainable Development at AngloGold Ashanti Ghana, illegal miners are still extracting ore despite being given deadlines to vacate.

“We’d expect there should be an appreciation of an investment from a foreign company trying to invest in your country”

Kelepile Dintwe, Vice President for Sustainable Development at AngloGold Ashanti Ghana

Without any obvious solutions to the problem, AngloGold Ashanti Ghana asked the World Bank’s International Centre for Settlement of Investment Dispute (ICSID) to compel the government of Ghana to act against the miners. A ruling would be expected soon after the Tribunal is constituted, which is anticipated later this year.

Another well-known factor affecting profitability is the erratic electricity supply.

“Energy has presented some challenges – it does stifle growth.”

Kelepile Dintwe, Vice President for Sustainable Development at AngloGold Ashanti Ghana

While electricity supply will have to be addressed, mining remains one sector that is still thriving. Dinitwe says that other opportunitiy areas for local investors is in manufacturing and retail -

“A lot of stuff is still being imported into Ghana”

Kelepile Dintwe, Vice President for Sustainable Development at AngloGold Ashanti Ghana

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