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Mining in West Africa
West Africa supplied 22.6% of the world’s rutile (titanium oxide), 11.5% of its bauxite, 9.4% of its gold and 5.6% of its uranium in 2016. A large number of companies are involved in the region’s mining sector, including major companies like Aluminum Corporation of China Limited (Chalco), AngloGold Ashanti, Newmont Mining and Rusal. Artisanal mining forms a large part of the mining sector in the region, but is often associated with smuggling, revenue loss, child labour, human rights abuse, and environmental and human health and safety concerns.
Opportunities for Growth
The mining sector has been identified by most countries in the region as a potential catalyst for economic development, and there is a determined effort to attract foreign direct investment. The majority of minerals produced in West Africa are currently exported for further processing. In 2017 West African countries exported minerals worth US$16.1bn, 26.3% more than the previous year, mainly as a result of the large increase in Guinea’s exports. Factors such as a lack of infrastructure, and, in some countries, security, continue to have an impact on the performance of West Africa’s mining sector.
This report on Mining in West Africa provides a comprehensive analysis of mining conditions, products and opportunities in West Africa. It includes reports on 36 companies such as AngloGold Ashanti, which plans to spend US$500m to reopen its Obuasi gold mine in Ghana , Societe Miniere de Boke, which signed agreements with Guinea to construct a railway, aluminium refinery and new bauxite mines that will cost US$3bn, Chalco, which is developing its US$500m Boffa bauxite mine in Guinea and Perseus Mining, which achieved commercial production at its US$107m Sissingue gold mine in Ivory Coast.