Ghana: Market for Copper Ores And Concentrates 2025

Market Size for Copper Ores And Concentrates in Ghana

In 2021, the Ghanian copper ores and concentrates market increased by 0.9% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Copper Ores And Concentrates in Ghana

In value terms, copper ores and concentrates production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 55% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Copper Ores And Concentrates

Exports from Ghana

In 2021, shipments abroad of copper ores and concentrates decreased by -8.3% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2013 with an increase of 38%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper ores and concentrates exports contracted to $X in 2021. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by 117%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) and China (X tons) were the main destinations of copper ores and concentrates exports from Ghana.

From 2012 to 2021, the biggest increases were in China (with a CAGR of 0.0%).

In value terms, the largest markets for copper ores and concentrates exported from Ghana were Germany ($X) and China ($X).

In terms of the main countries of destination, China, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average copper ores and concentrates export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2013 an increase of 57%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-3.4%).

Imports of Copper Ores And Concentrates

Imports into Ghana

For the tenth consecutive year, Ghana recorded growth in purchases abroad of copper ores and concentrates, which increased by 15% to X kg in 2021. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 30% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, copper ores and concentrates imports declined to $X in 2021. Overall, imports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2015 when imports increased by 15% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X kg) constituted the largest supplier of copper ores and concentrates to Ghana, with a 82% share of total imports. Moreover, copper ores and concentrates imports from India exceeded the figures recorded by the second-largest supplier, South Africa (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +45.4%.

In value terms, the largest copper ores and concentrates suppliers to Ghana were South Africa ($X) and India ($X).

Among the main suppliers, India, with a CAGR of +21.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average copper ores and concentrates import price stood at $X per ton in 2021, which is down by -19.3% against the previous year. In general, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2014 when the average import price decreased by -7% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Africa ($X per ton), while the price for India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-1.9%).

Source: IndexBox Platform

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