THE GHAN A C H A MBE R OF M INES 2019 In du s t ry S t a t ist ics Da t a GHA N A C H A M B E R O F M I N E S 20 1 9 FA C T O I D Pa g e 8 ex cha n ge tra n sa cti o n s a n d im port s A s well th e SAP d il uted th e d o m in a n ce o f t h e st a te in genera l ec o n o m ic a ctivit ies O n a cc o u n t o f th es e re f o rms th e in ve st o r c o m m u n ity re n ewe d its in ter es t in th e ec o n o m y pa rtic ula rly i n th e m in in g sector T h e m i n i n g sector t h er ef o re be ca m e t h e pith o f go ve rn m ent s ef f o rt to re vive th e a il in g e con o m y th r o ugh th e a ttra ctio n o f f o re ig n d i re ct i n ve st m e n ts FD I wi th it s pr o ve n a ss o cia ted be n ef its suc h a s genera tio n o f ba d ly n ee d ed f o re ig n ex cha n ge empl o ym en t c re a tio n a n d tra n sfe r o f tec h n o lo gy a n d k n o wl e d ge 2 2 H I G H L I G H T S OF P E RFOR M AN CE OF T H E M I N I N G I N D U STRY I N 2 0 1 9 The pr o d ucti o n pur c h a ses a n d sh ipm e n t o utt urns o f G h a n a s m a i n m i n er a ls wer e m ixe d in 2 0 1 9 T h e pr o d u ctio n o f go ld a ttributa ble to th e la rge sca le sector ex pa n d ed by 6 pe r ce n t f ro m 2 8 08 m il li o n o u n ce s in 2 0 1 8 to 2 9 8 9 m il l io n o un ce s in 2 0 1 9 On th e o th er h a n d th e q ua n t um o f go ld a ss a yed by th e Pre cio u s M i n er a ls M a rke tin g Co m pa n y PM M C o n be h a lf o f L ice n sed G o ld E xp o rti n g C o m pa n ies L G E C s wh ic h i s used a s a pr o xy f o r pr o d uctio n by s m a ll sc a le m in es d wi n d led by 2 0 pe r ce n t f rom 1 9 8 4 m il li o n o un ce s in 2 0 1 8 to 1 5 8 8 m il l i o n o un ce s in 2 0 1 9 In view o f th e con tra st in g pe rf o r m a n ce o f th e la rge a n d sm a ll sca le sectors G h a n a s to ta l g o ld pr o d ucti o n d ec li n ed f ro m 4 7 9 2 m il li o n o un ce s in 2 0 1 8 to 4 5 7 7 m il l io n o un ce s in 2 0 1 9 In s pite o f t h e f a ll i n o utput th e o uttur n i n 2 0 1 9 wa s th e t h ird h ig h e st leve l o f pr o d u ctio n in m o re th a n th re e d e ca d es The sh ip m ent o f m a n ga n e se by th e G h a n a M a n ga n ese Co m pa n y i n cr ea sed by 1 8 pe r ce n t f rom 4 5 5 1 m il li o n t o n n es i n 2 0 1 8 to 5 3 8 3 m il li o n to n n es i n 2 0 1 9 In th e sa m e ve in sh ipm ent s o f ba uxite by G h a n a B a uxite Com pa n y i m pr o ve d by 1 0 pe r ce n t f rom 1 0 1 1 m il l io n to n n es in 2 0 1 8 to 1 1 1 6 m il li o n to n n es i n 2 0 1 9 On th e d o wn s ide pur cha ses o f d ia m o n d by PM M C f ell b y 4 1 pe r ce n t f rom 0 0 5 7 m il li o n ca ra ts in 2 0 1 8 t o 0 0 3 3 m il li o n ca ra ts in 2019 Da ta f rom th e G h a n a R ev e n ue A uth o rit y G R A s h o ws t h a t to ta l d ire ct d o m e st ic f is ca l re ce ipts a ttrib uta bl e to th e m i n in g a n d q ua rr yi n g sector im pr o ve d f ro m G H 2 3 6 bill io n in 2 0 1 8 to GH 4 0 2 bill io n in 2 0 1 9 The 7 0 pe r ce n t in cr ea se in f is ca l pa ym ents by f irms in th e sect o r wa s o cc a si o n ed by th e s im u lta n eo us i n cr ea se in pr o d ucti o n a n d pr ice pa rticula rly go ld S pe cif ica ll y corpora te ta x re ce ipts f rom th e m i n er a ls sect o r in cr ea sed by 8 9 pe r ce n t to G H 2 2 7 bill io n in 2 0 1 9 f rom G H 1 2 0 bill io n in 2 0 1 8 The sector s corpora te ta x pa ym en ts were eq uiva lent to 1 9 0 1 p er ce n t o f a gg re ga te corpora te ta x f is ca l re ce ipts col lecte d by t h e G R A M o re o ve r i n co m e ta x P A Y E re ce ipts o f m i n in g sect o r empl o yee s r o se f rom G H 4 5 7 1 6 m il li o n i n 2 0 1 8 to G H 7 3 6 2 6 in 2 0 1 9 wh ich re pr ese n ts a gro wt h ra te o f 6 1 1 pe r ce n t L ik e wi se m in er a l roy a lty pa ym e n t a n d re si d ua l ta xe s wh ic h i s o f f icia l ly c la ss ifie d a s self empl o yed a l s o ex p a n d ed by 4 2 7 pe r ce n t a n d 2 7 7 8 pe r ce n t re spec tively Wh il e m i n er a l ro ya lty re ce i pts w h ic h wa s 9 9 4 pe r ce n t o f to ta l n o n o il ro ya lty pa y m ents i n cr ea sed f rom G H 7 0 5 2 6 m il li o n in 2 0 1 8 to G H 1 0 1 bill io n i n 2 0 1 9 th e re si d ua l ta x es surged f rom G H 0 1 8 m il li o n t o G H 0 6 7 m il li o n i n th e sa m e pe rio d In view o f t h e si g n ifica n t gr o wt h i n f is ca l pa y m ent s th e sh a re o f th e m i n i n g a n d q ua rr yi n g sector i n t o ta l d ire ct d o m es tic r ec eipt s m o bil i z ed by the G R A i m pr o ve d f rom 1 4 2 pe r ce n t in 2 0 1 8 to 1 8 3 pe r ce n t The sec to rs to ta l f i sca l c o n trib uti o n i n 2 0 1 9 wa s th e secon d h ig h est a f ter th e f i n a n cia l a n d in sura n ce a n d tra n s la tes i n t o 7 7 pe r ce n t of d o m e st ic r ev enue In th e pr ev i o us yea r th e m in i n g a n d q ua rr yi n g sec to r wa s t h e la rge s t c o n tributo r to d ire c t d o m est ic re ce ipts a n d a cc o un ted f o r 5 pe r ce n t o f d o m est ic f is ca l re ve n ue In ter m s o f to ta l g o ve rn m e n t re ve n ue th e m in in g a n d q ua rr yi n g sectors c o n tri buti o n s in cr e a sed f rom 4 9 pe r ce n t in 2 0 1 8 to 7 6 pe r ce n t in 2 0 1 9