Ghana - largest gold producer in Africa
For around 100 years, South Africa was the largest gold producer in Africa. Now it has been overtaken by Ghana.
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For the South African gold industry it is certainly not pleasing. For a very long time, South Africa led the gold producing countries. But high costs, declining production and strikes have pushed the country out of first place. Profiteer is Ghana. Because here politics is more inclined towards mining and also the mine operation is cheaper and easier to manage.
In 2018, Ghana produced around 12 percent more gold than in the previous year. Most of it comes from smaller mines, although some of the world's largest mine operators have also pitched their tents in Ghana. And Ghana knows the importance of the mining industry. Thus, corporate taxes were reduced in 2016 and 2017.
Ghana is one of the fastest growing economies on the African continent. And the country is working on the environmental problems that mines bring with them through conservation projects. The fact that Ghana holds a ten percent stake in all mining companies leads to safety and acceptance.
In Ghana, Cardinal Resources -https://www.commodity-tv.net/c/search_adv/?v=299212 - owns the Bolgatanga Project, including the Namdini Property and the Subranum Gold Project, totalling 734 square kilometres of prospective land. The Namdini property is particularly convincing (up to 4.1 grams of gold per tonne of rock).
The acceptance of the local population - thanks to participation - is also a big plus for Caledonia Mining - https://www.commodity-tv.net/c/search_adv/?v=299217 - with its producing Blanket gold mine in Zimbabwe. In the second quarter of 2019, 12,712 ounces of gold were produced here. Gross profit was $7 million, 37 percent above the comparable second quarter of 2018, and gold production is expected to increase to approximately 80,000 ounces of gold per year by 2022.
Current company information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/).
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