Title of Slide to go Here
Subtitle to go here
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
Title of Slide to
Presentation
Outline
go Here
Subtitle to go here
 Background
 Mineral Resource Areas
 National Resource Contributions
 Resource Policy Framework
 Resource Legislative Framework
 Institutional Governance
 Governance Challenges
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
2
Title of Slide toBackground
go Here
Subtitle to go here
 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)

•
•
•
•
•
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
3
Title of Slide to go Here
Background
Subtitle to go here
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.
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
4
Mineral
Title ofResource
Slide toAreas
go Here
Subtitle to go here
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
5
Petroleum
Resource
Areas
Title of Slide
to go
Here
Subtitle to go here
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
6
andHere
Legislative Framework
Title Mineral
of SlidePolicy
to go
Subtitle to go here
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
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
7
Petroleum
Policyto
& Legislative
Title of Slide
go Here Framework
Subtitle to go here
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)

•
•
•
•
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
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
8
Institutional
Governance
Title of Slide
to go Here
Subtitle to go here
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
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
9
Title
of SlideGovernance
to go Here Institutions
Mining:
Subtitle to go here
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.
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
10
Title of Slide to go Here
Subtitle to go here
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
11
Governance Challenges Facing Resource Industry
Title of Slide to go Here
Subtitle to go here
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?
12
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
Title of Slide
to goFacing
HereResource Industry
Governance
Challenges
Subtitle to go here
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
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
13
THANK
Title of Slide to
go HereYOU
Subtitle to go here
AFRICAN CENTER FOR ECONOMIC TRANSFORMATION
14