Mining Industry
Ghana is highly endowed with mineral resources and natural raw materials. The main mineral resources are gold, diamonds, manganese, iron and bauxite. The minig industry accounts for 5% of Ghana's GDP and minerals make up 37% of the total exports of which Gold contributes over 90% of the total mineral exports.
Recently, oil fields have been discovered off Ghana's coast. The Jubilee field, discovered in June 2007, is located at a depth of 1000-1500 meters off the coast of Ghana and has oil reserves of up to 1.8 billion barrels. The production counts oil jets for 120,000 barrels a day. Moreover, not far from Jubilee, the Tweneboa field was discovered, with a potential of up to 1.4 billion barrels.
The "Offshore Cape Three Point", led by the Italian ENI, is the largest mining project in the country, which aims to increase the extraction capacity of Ghana, which would significantly affect future exports.
Although the levels of Ghana's reserves are still much lower than those of countries like Nigeria, its deposits have the advantage of being able to be exploited in stable political and socio-economic conditions and with a favorable tax regime.