ABSTRACT
The expectation that the exploitation of a country’s natural resources would catalyse the development of that country is age-old and widespread. Ghana is endowed with significant natural resources, including minerals, forests and hydrocarbons. The debate as to whether the exploitation of these natural resources, particularly, mineral resources, have benefited the development of the country still rages on. This chapter contributes to the debate and discusses a range of issues that have bearing on how Ghana can harness the benefits of its natural resource extraction for national development. Based on the available data, literature and the author’s own experience in the field, the chapter comes to the conclusion that while mining has greatly supported the economy of Ghana over the years, the benefits seem to be overly skewed to the centre, with no significant propelling forces to ensure effective impact at the actual mining regions. Similarly, given that only four of the country’s minerals have been mined commercially over the years, compared to hundreds in South Africa, for example, the study underscores the imperative for managing the seemingly exaggerated expectations of how Ghana’s mineral exploitations can carry the burden of development. The chapter challenges both critics and supporters of the mining industry to improve their understanding of the mechanisms that allow for increased developmental benefits of mining and advocate the deepening of the integration of mining into the economy through local supply chain development.
