Gold In Ghana

Despite its much smaller size than other countries in Africa, Ghana has become the second largest producer of gold on the continent. The total production of gold in Ghana topped 2.9 million ounces for the year of 2009, an improvement of 300,000 ounces over the previous year’s output. With foreign interest of gold buyers from the international community, more attention is being paid on this small country and the large influence it is creating on the many gold exchange locations throughout the world.

There are a number of different companies involved in gold in Africa and in the country of Ghana. The largest individual mine in the country is located in the southwest of Ghana and is called the Tarkwa mine. It is estimated that there is some 15.3 million ounces in the mine and the current production efforts are delivering approximately 100,000 ounces per month. In the same region, there are many other mines owned by various companies. Some big mining companies that are looking for gold in Ghana include Golden Star Resources and AngloGold.

In previous decades, the history of Ghana was of a struggling nation. However, the relatively recent discovery of gold has changed the future of the country. With foreign investment coming in large amounts, most experts in the gold exchange industry point to Ghana as one of the next hot spots of gold mining. For this reason, the gold buyers from major corporations have set up offices in Ghana to be ready once production techniques improve. In addition, several of these companies are actively buying smaller mines in speculation of more gold that may be found at the locations. Gold in Ghana is obviously a major source of the country’s revenue and it is thought that the country may soon overtake South Africa as the largest producer of Gold in Africa and become one of the major players on the gold market of the world.