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Ghana Mining Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View: Ghana's gold production will remain subdued as low gold prices will drive miners' to cut costsand restructure organisations. In addition, the country's regulatory environment and ongoing powershortages will limit the sector's growth outlook.

Latest Developments & Structural Trends

- On July 13, Gulf Shores Resources announced the signing of a Letter of Intent with Goldplat PLC forthe right to earn 75% of Goldplat's interest in the Anumso gold project by expending US$3.0M onexploration over 2.5 years.

- On April 12, Cardinal Resources Ltd (Cardinal) added two more drill rigs at the firm's Namdini projectahead 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'sObuasi gold mine in Ghana. The move follows efforts by both the companies to improve the project'sreturns. The companies had announced a deal in September 2015 to form a joint venture to redevelop andoperate the mine. Randgold had agreed to lead and fund a development plan designed to rebuild theoperation.

- We have raised our gold price forecasts for 2016 to USD1,275 per ounce (/oz) from USD1,150/oz. Arecalibration of expectations for the global monetary policy trajectory by investors and equity marketturmoil has combined to create a more positive environment for gold prices than we previouslyanticipated.

- We have revised up our production forecasts and expect output to grow from 3.67mn ounces (moz) in2016 to 3.93moz by 2020, which would represent an average annual growth of 1.6% during this period.

Table Of Contents

Ghana Mining Report Q4 2016
BMI Industry View 7
Table: Ghana Mining Industry Value 7
Latest Developments and Structural Trends 7
SWOT 8
Industry Forecast 10
Ghana Gold: Modest Growth In Coming Years 10
Latest Developments 10
Table: Ghana - Gold Production and Growth 10
Structural Trends 11
Government Shows No Sign of Easing Taxes 14
Industry Risk Reward Ratings 17
Ghana - Risk/Reward Index 17
Rewards 17
Industry Rewards 17
Country Rewards 17
Risks 17
Industry Risks 17
Country Risks 18
Africa - Risk/Reward Index 18
Key Takeaways 18
Latest Revisions 19
Table: Africa - Mining Risk/Reward Indices 20
Regulatory Development 21
Trade and Investment Risk Analysis 21
Commodities Forecast 23
Commodities Outlook 23
Table: BMI Commodities Price Forecasts 23
Competitive Landscape 25
Table: Africa - Financial Data 26
Company Profile 27
Global Company Strategy - AngloGold Ashanti - Q4 2016 27
Table: Gold Price Forecast 29
Company Strategy 31
Table: AngloGold Ashanti - Key Financial Data 33
Global Company Strategy - Newmont Mining - Q4 2016 34
Table: Select Commodities - Price Forecasts 36
Table: Newmont Mining - Key Projects 40
Table: Newmont Mining - Key Financial Data 40
Table: Gold - Operational Highlights, 2015 41
Regional Overview 42
Sub-Saharan Africa Overview 42
Table: SSA - Government Involvement In Mining Sector 48
Methodology 50
Industry Forecast Methodology 50
Sources 51
Risk/Reward Index Methodology 52
Table: Weighting Of Indicators 53

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