• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 3 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 2 hours Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 5 hours The Inconvenient Truth Of Electric Cars
  • 2 hours Oil Demand Needs to Halve: Equinor
  • 6 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 7 hours NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 15 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 15 hours Win Against Tyranny: Turkey's Opposition Strikes Blow To Erdogan With Istanbul Mayoral Win
  • 4 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 2 hours The Plastics Problem
  • 3 hours Hydrogen FTW... Some Day
  • 5 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 30 mins Solar Panels at 26 cents per watt
  • 6 hours Wonders of Shale - Gas, bringing investments and jobs to the US
  • 2 hours Section 232 Uranium
Alt Text

The Worst Mining Nation On The Planet?

Falling production, financial hardships, strikes…

Alt Text

Can Mali Maintain Its Gold Mining Status?

Mali could be about to…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Did Africa's #2 Gold Nation Just Suspend All Mining Projects?

Potentially major development in the gold space this week. With one of the world’s go-to producing nations apparently going through a regulatory upheaval — which could affect new projects and output.

That’s in Ghana. Where the federal government said it has suspended issuance of new mining licenses across the country.

That news was delivered at a town hall meeting Monday, by Ghana’s Vice-President Mahamadu Bawumia. Who simply noted, “We have suspended the issuance of mining licenses so that we can restructure the sector.”

VP Bawumia gave few details beyond this. But did add that the move was part of a five-year plan for mining developed by the government — with the aim to “improve the management of small scale mining to protect the environment.”

The mention of “small scale” mining is key here. With the sudden suspension of mining licenses coming after recent high-profile media campaigns in Ghana have highlighted the damage done by illegal artisanal operations around the country.

The government’s regulatory actions thus appear related to the small-scale mining problem. Leading some observers to speculate that the mining license ban might only apply to small projects — not the large-scale operations that provide the bulk of Ghana’s gold output.

But officials did not confirm whether the licensing suspension applies just to small-scale mines, or to all projects. Leaving open the possibility that new projects may be completely off the table for the time being. Related: Gold Prices Rise As Demand In This No.1 Gold Market Soars

If licensing is indeed completely suspended, it would be an important development for the global gold sector. With Ghana producing 2.9 million ounces last year — making it Africa’s second-largest supplier after South Africa, and the number 11 producing nation globally.

Vice-President Bawumia also said new rules are coming to prevent mining “around water bodies” — which could put a further dent in new projects. Watch for clarification from the government on where the licensing ban will apply, and what the timelines might be for a restart to permitting.

Here’s to stopping and starting.

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News