Focus on gold in the exploration stage indicates that the importance of gold in West Africa’s mining sector will only increase in the future, as new projects will enter the production phase.
Experts are confident that significant local gold resources were underexplored, and this can spark even more interest from the international mining community.
Recent gold production numbers show that South Africa was still the biggest gold producer in the region in 2017, but West Africa’s gold mining industry, led by Ghana and Cote d’ Ivoire, already produces twice as much gold as South Africa, and Ghana alone has chances to overtake its struggling southern peers in gold output in the foreseeable future.
Another important indicator of West Africa’s gold mining sector enticement for investors is production costs measured by the World Gold Council’s all-in sustaining costs (AISC) metrics. AISC shows that in Q2 2018, two West Africa mines were in the global list of top 6 lowest cost gold operations.
A study of the sector shows a widening gap in the market for competent and experienced Mining Contractors who can work to International Standards in order to service the industry and carry out the actual mining.
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