#ghanacommodities

[ghanafinancialmarket]

Ghana Regains Status As Leading Producer of gold in Africa.

The Ghana Chamber of Mines attributed the development to an increase in production in both small-scale and large-scale mining. But the country is now facing an environmental crisis due to illegal gold mining.  Much of the country’s forests, rivers and other bodies of water, have been damaged by illegal gold mining prompting serious health concerns in mining communities.  Popularly known as…

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Ghana Spends US$1.52 bln On Crude Oil Production In 2022– PIAC

Ghana spent a total amount of US$1.52 billion on its three oil producing fields in 2022. This was made up of production costs of US$597.86 million and development cost of US$919.51 million. GNPC’s share of the total costs stood at US$120.63 million. This was made up of production and developments costs of US$79.81 million and US$40.82 million respectively. Crude Oil Liftings Lifting by…

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Ghana Govt Imports About 60% Worth Of Oil Under the Gold-for-Oil Policy– VP

The government will, by the end of this year, import oil one hundred percent under the Gold-for-Oil policy, Vice President Dr Mahamudu Bawumia has said. Currently, the government is doing about 50 to 60 percent import of oil under the policy, he said. Speaking at a forum organized by the Bulk Oil Storage and Transformation (BOST) company in Accra, on Wednesday, March 15, Dr Bawumia said: “The…

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Newmont Declares US$0.40 Q4-2022 Dividend

Newmont Corporation has announced fourth-quarter and full-year 2022 results, as well as its 2023 and longer-term outlook. The miner says it achieved its 2022 guidance and safely delivered on its commitments. · Produced 6.0 million gold ouncesand 1.3 million gold equivalent ounces from copper, silver, lead and zinc; achieved original production guidance range set in December 2021 · Gold all-in…

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Ghana's Sovereign Fund (MIIF) Grows Beyond GH¢3 bln (US$234 mln)

The Minerals Income Investment Fund (MIIF) has in its performance update for 2022 said, it now has ¢3.2 billion in Assets Under Management (AUM) and is targeting ¢5 billion by the end of 2023. The fund grew assets by a whopping 87.4% from 2021 figures which stood at ¢1.7 billion. People with knowledge of the fund’s intimate workings say with Lithium and Salt investments penned for 2023, the…

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Petrol, Diesel Now Sell At GH¢15.25, GH¢15.90 Per Litre At Pumps

Some Oil Marketing Companies(OMCs) have started increasing prices of petroleum products at the pumps from today, Wednesday, February 1, 2023 as anticipated. One of the market leaders, GOIL, is now selling a litre of petrol at ¢15.25, from the previous ¢13.60. Diesel on the other hand is going for ¢15.90 per litre, from the previous ¢15.52. Other OMCs are expected to follow suit by announcing…

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Gold Fields Sells 26k Ounces Of Gold To Bank of Ghana

Tap into the world’s largest financial market with EXNESS Gold Fields Ghana has sold 26,000 ounces of gold to the Bank of Ghana (BoG) in December 2022, following a gold purchasing agreement with the central bank. Payment for the gold was made in the local currency, the Cedi. ‘’Our Tarkwa and Damang mines sold 19,000 and 7,000 ounces of gold, respectively, to the Bank of Ghana at the prevailing…

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Fuel Prices To Go Up Further By 10% – COPEC

Fuel Prices To Go Up Further By 10% – COPEC

Prices of petroleum products are expected to see a rise again beginning Sunday, October 16 as part of the adjustments for the 2ndpricing window of this month. Fuel prices across pumps within the country are projected to see an increase of an average of 10% for both petrol and diesel, according to the Chamber of Petroleum Consumers(COPEC). From observed figures within the downstream industry,…

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