The Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) has today, formally launched the country’s 2020 Mining and Oil/Gas EITI reports, published on December 31, 2022. The MSG is a tripartite body made up of Government, Industry and Civil Society, with the responsibility of steering the affairs of GHEITI. The production of the reports was funded by the World Bank through the Extractive Global Programmatic Support (EGPS) Grant. The compilation of the 2020 report brings to nineteen (19), the total number of mining reports so far produced and published since Ghana acceded to the initiative in 2003. For oil and gas, the 2019 report is the tenth (10th) since the initiative was expanded to cover the sector in 2010.
The reports, which are published in conformity with the 2019 EITI Standard, go beyond the mere reconciliation of payments and receipts, to include contextual information such as the summary description of the legal framework and fiscal regime, the sector’s contribution to the economy, production and export data, state participation in the extractive industries, revenue allocations, sustainability of revenues, license registers and license allocation, and several other requirements of the Standard.
The reports were jointly launched by the Minister of State at the Ministry of Finance, who also doubles as the Champion for GHEITI, and the Deputy of Minister of Lands and Natural Resources responsible for Mining, Hon. George Mireku Duker.
Based on the established materiality threshold of US$13.6m, seven oil and gas companies qualified to participate in the 2020 reconciliation exercise. The companies that participated in the reconciliation exercise were Ghana National Petroleum Corporation (GNPC), Tullow Ghana Ltd, Kosmos Energy Ghana HC, and Eni Ghana (E&P) Ltd.
Anadarko WCTP Ltd, Vitol and PetroSA did not submit reporting templates even though they met the materiality threshold.
For the mining report, 14 companies - made up of 12 gold mining, one manganese, and one bauxite – took part in the reconciliation exercise based on a materiality threshold of GHS16
On the government side, reporting entities whose data were reconciled with those of the companies were: Ghana Revenue Authority (GRA), Ghana National Petroleum Corporation (GNPC), Ministry of Finance / Bank of Ghana, and Petroleum Commission (PC).
For the mining report, 14 companies - made up of 12 gold mining, one manganese, and one bauxite – took part in the reconciliation exercise based on a materiality threshold of GHS16m.
State agencies which provided data and information for the mining sector report were: GRA, Office of the Administrator of Stool lands (OASL), Minerals Commission, Municipal and District Assemblies within areas of operation of the mines, Ministry of Lands and Natural Resources, and Ministry of Finance.
Key Findings – Oil and Gas
Key Findings – Mining
Distributed by APO Group on behalf of Ministry of Finance - Republic of Ghana.