A rich but unexploited underground

Mining Panorama
Monday, 05 February 2018 14:20
A rich but unexploited underground

(Togo First) - Togo’s mining sector is still very little developed. Indeed, despite the riches of its underground, the sector contributes little to the economy and investments are far from meeting expectations.

Some figures…

According to ITIE report released Dec. 2017 for the 2015 fiscal year, extractive industry contributed CFA17.910 billion to State revenues, including CFA13.208 billion (82%) generated by mines. Hence, extractive sector represents a little more than 2% of overall State revenues, and about 3.7% of GDP. Most of the sector’s revenues come from phosphate. Along with this mineral, Togo’s other main mining products are clinker and gold. They respectively represent 13%, 6% and 3% of the country’s total exports. In regards to employment, data shows that the extractive industry employs 0.6% of active population.

 

Mining exploitation and outlook for the sector in Togo

As said earlier, Phosphate is Togo’s most exploited mineral. It is mined by a single firm, SNPT, which is active in Hahotoé and Kpogamé at two mines with reserves estimated at 50 million tons.

The country also produces limestone at the Taligbo deposit which is currently operated by WACEM and Scantogo Mines. Other companies got an exploitation license to mine iron, marble and manganese.

Togo has many resources and if those are fully exploited, it would significantly boost its economy. For example, iron resources are valued at 500 million tons in the Bassar region, while chromite, phosphate and manganese resources are estimated at 50,000 tons (Kabyè deposit), 55 million tons (Bassar) and more than 6 million tons (Nayéga) respectively.

Government’s strategy will thus mainly be to attract more foreign investments in the sector, both in its exploration and exploitation segments.

 

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