Gold Mines production in Southern and Western Africa is booming! Ghana is now the largest producer of gold producing 142.4 tons of gold, beating out South Africa for the top spot in 2019. So much so, that industries such as Anglo Gold Ashanti and Gold Fields have shifted their focus from South Africa to Ghana, where the sun seems to be rising for gold production in southern and western Africa.
Gold production in southern and western Africa is critical to the economy, as Africa hosts enormous gold reserves. Gold reserves that guarantee decades of contribution to the African economy. With South Africa producing 118.2 tons of gold a year and Ivory Coast (32.47 tons), Ghana, Mali (71.1 tons) and Burkina Faso (62 tons) producing over 300 tons of gold for West Africa in 2019 alone. Gold Production in Southern and Western Africa seems to be the hub of job creation in Africa.
Although the gold rush in Africa seems to be never-ending, the pandemic had significant impact on gold production in southern and western Africa. At one point, over one quarter of West African gold mines were on hold due to COVID-19 lockdowns. However, gold production in West Africa’s leading markets is expected to increase by 2.7% in 2021. And majority of its growth is expected to come from Ghana.
South Africa, even though having the biggest and deepest gold mine in the world, was particularly affected by COVID-19 lockdowns, with gold production operations seeing 35 out 56 gold mines temporarily suspended.
Due to the decline of the gold production industry at the southern end of the continent, Africa’s largest money manager sees significant investment opportunities in the production of gold in Western Africa. Moreover, investment friendly policies can help Ghana and other West African countries drive the next “gold-mining boom”. For gold production in Southern and Western Africa, West Africa seems to be the place to be.
South Africa, even though having the biggest gold mine in the world, was particularly affected by COVID-19 lockdowns, with gold production operations seeing 35 out 56 gold mines temporarily suspended.
Due to the decline of the gold production industry at the southern end of the continent, Africa’s largest money manager sees significant investment opportunities in the production of gold in Western Africa. Moreover, investment friendly policies can help Ghana and other West African countries drive the next “gold-mining boom”. For gold production in Southern and Western Africa, West Africa seems to be the place to be.
Even though South Africa’s gold industry has produced half of the world’s bullion ever mined, it has been shrinking amid the geological challenges of exploiting the world’s deepest mines. For those reasons, AngloGold Ashanti is in the process of selling its last underground mine in South Africa and expanding in Ghana. While South Africa’s gold production industry is facing difficulties, the maturity of their mining sector makes it still worth investing in.
Since the production of gold in Southern and Western Africa is booming, opportunities are bustling! And with business crossing borders, you will need a translation company that is reliable and cost-effective to handle all of your translation needs. That is why you should choose Frenchside Language Translation Services. With a full service team of native speaking professionals, Frenchside is a translation service based in Gauteng and can help you translate your documents into English, Portuguese, Spanish, German, as well as all South African languages.
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