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Report
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PROMOTING TRANSPARENT EFFECTIVE AND ACCOUNTABLE
GOVERNANCE (TEAG)
“Reversing Resource Curse”
Overview of the Extractive Industry and Development in Ghana
(Dr. Joe Amoako-Tuffour, Senior Advisor, ACET)
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
Accra, Ghana
August, 2013
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Presentation
Outline
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 Background
 Mineral Resource Areas
 National Resource Contributions
 Resource Policy Framework
 Resource Legislative Framework
 Institutional Governance
 Governance Challenges
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Title of Slide toBackground
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 Area – 238,535 km2 (92,099 sq mi)
 Population -25,199,609 (July 2013 est.)
 GDP – $83.74 billion (2012 est.), PPP
 Extractive Industry Highlights
Mining
Long tradition in the country
1st documentation on gold mining in 1493 ( Kesse, 1985)
2nd largest producer of gold per annum, in Africa
10th largest in the world (3% of world production) in 2012.
Major firms: AngloGold Ashanti, Newmont Ghana, Gold Fields Ghana, Chirano
Goldmines and Golden Star
• Others – Adamus (gold), Ghana Bauxite Co. Ghana Manganese, Small Scale Miners
• Artisanal Miners and Diggers: (about 26% gold output, 100% diamond output)
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Background
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Petroleum
• Offshore oil reserves in Ghana were discovered in the 1970s,
but negligible quantities.
• Commercial quantities of discovered in 2007 and reported to
contain up to 3 billion barrels (480,000,000 m3).
• First Oil was produced in December 2010
• Major oil & gas contractors include
• Tullow Ghana, Kosmos Energy, ENI and Hess Ghana
Limited.
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Mineral
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Petroleum
Resource
Areas
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Legislative Framework
Title Mineral
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Policy initiatives
Key Legislation
PNDC Law 153
the Income Tax Decree, 1975,
the Investment Code of 1981,
The Minerals and Mining Law of 1986,
Minerals and Mining Act of 2006
Subsidiary legislation
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Petroleum
Policyto
& Legislative
Title of Slide
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3 Policy Episodes
 1982-1985
• Ghana National Petroleum Corporation Law, 1983 (PNDC Law 64)
• Petroleum (Exploration and Production Bill), 1983
 2001-2008
• National Petroleum Authority Act,2005 (act 691)
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2009 to present
Local Content and Local Participation Policy Framework 2011
Petroleum Revenue Management Act, 2011 (Act 815)
Petroleum Commission Act, 2011
Petroleum (Exploration and Production Bill 2013
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Institutional
Governance
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Pet. Comm.
GNPC
Upstream &
Midstream
Petroleum
Executive
Mining
GOVERNANCE
INSTITUTIONS
Petroleum
Legislature
Energy Commission
GNGC
Min of Energy
& Petroleum
TOR, NPA, BOST
Downstream
. GCMC, GNGC
Parliamentary
Committee on Mines and
Energy
Mining
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Title
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to go Here Institutions
Mining:
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a.
b.
c.
d.
e.
The Executive and Ministries it directly controls;
The Legislature;
“Autonomous” public institutions;
Traditional Authorities;
Private (Non-governmental) Organizations
The governance of the sector is largely limited to regulations and
ensuring that the developmental benefits of mining are
maximized, without active state participation.
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Governance Challenges Facing Resource Industry
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Mining
Increasing galamsey operations (artisanal mining) on company
concessions
Influx of foreign nationals in SSM
Land compensation
Scope of Corporate Social Responsibility
Challenges with mineral revenue
o assessment, collection, accountability, and
o Savings
o End use.
Obsolescence of fiscal regime
 Mineral Policy –Which Way?
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AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
Title of Slide
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HereResource Industry
Governance
Challenges
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Petroleum
Lack of clarity in petroleum policy direction
Inertia in the development of legislative framework
Both mining and petroleum- clear absence of transparency in
licensing and contracting
Institutional mandate overlap
Monitoring revenue management and spending
Social environmental impact
Local content administrative challenges
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THANK
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