Finance

Mining sector repatriated $4.2 billion to Ghana in 2023 – Report

The 2023 mining report released by the Ghana Chamber of Mines has revealed that mining companies repatriated over $4.2 billion to Ghana.

This represents a 1.4% increase in the value of repatriation compared to 2022.

The boost in revenue is primarily attributed to higher export proceeds from various minerals, with manganese being the only exception.

The report also highlighted that a substantial portion of the repatriated funds, $2.7 billion, was processed through local banks.

“On the whole, the Chamber’s producing member companies repatriated US$4.2 billion into the country through commercial banks and the Bank of Ghana in 2023,” the report stated.

“The 15 per cent growth in mineral revenue was ascribed to the increase in proceeds from the export of all minerals, except manganese,” it highlighted.

Additionally, the mineral sector is expecting a positive trend in the production and export volumes of the four traditional minerals, including gold.

Projections for gold indicate a trading range of 4.3 to 4.5 million ounces this year.

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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