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The impact of mining to the socio-economic development of Ghana: The case of Anglogold Ashanti Ghana
Boateng, Kofi Ampadu
Mining has a long history as far as the existence of humans are concerned. Mining contributes to economic growth and can be a source of employment for many. Mining has been a source of revenue to most developing countries that are endowed with mineral and natural resources. These revenues come in the form of taxes, government shares, royalties, commitment to corporate social responsibility and foreign exchange earnings as a result of the exportation of minerals. When these benefits are managed carefully, economies can be transformed. Due to the immense benefits mining has on the economy and society, there is an over exploitation on environment leading to environmental degradation. The pollution associated with mining when not properly managed can result in an epidemic and the most affected are communities in which mining activities are predominant. The aim of this thesis is to assess the socio-economic impact of mining in Ghana, with reference to AGA and Obuasi municipality. The mode of data collection was mainly secondary and primary data. The secondary data was obtained from numerous governmental institutions and AGA. A brief questionnaire was administered and analyzed. The response to the questionnaire was close ended to enable easy interpretation. Availability of relevant data was a constraint and this caused delays in the writing of this thesis. Ghana holds large mineral reserves and its extractives sector has been dominated for centuries by mining. Gold is currently the most important of all the minerals mined, accounting for over 90 percent of mining sector revenue while the mining industry as a whole contributes about 47 percent of total exports (Ghana EITI reports summary), and up to 40 percent of revenue in some mining areas. Drawing conclusions from the research and the above statement, it can be said that Ghana's economy as it stands now cannot thrive without revenue from mining sector. There is therefore the need to invest in research and development in order to find alternatives since mining is a non-renewable resource. It was also observed that Obuasi cannot stand the test of sustainability during the closure of AGA. Therefore the need to explore alternate livelihoods apart from mining.
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