Iron Ore Surge in the World ù The Role of Ghana

The bulk of the worldÆs production of iron ore is processed into steel. The needs of the steel industry therefore demand a high exploration and exploitation of iron ore. One trend within the industry has been a great increase in the demand of iron ore and this is reflected in an increase in world steel production from 1955 to date. In addition to the high demand for steel, is ChinaÆs high appetite to feed its steel industry. It is therefore important that the iron ore potential of Ghana is showcased for eventual exploitation by potential investors to meet this enormous demand for the commodity in the industry globally. Ghana has three main iron deposits of potential industrial and commercial importance. They are: Shieni sedimentary iron ore (reserves: 1.270 X 106 metric tonnes), Pudo titaniferous-magnetiferous iron ore and the Opon-Mansi lateritic iron ore deposits. The Opon-Mansi iron ore deposit occurs in the Western region of Ghana. The ore deposits are located on top of the range of 15 hills, which extend over a distance of 24 km from Opon-valley, south of the Western region to Dunkwa. The area has an estimated 147 Mt of iron deposit, with Fe content of 52.5 per cent. This paper looks at the iron ore potential of Ghana and how it is capable of attracting potential investors to exploit this valuable mineral for global consumption.