Monday, 12th June 2006 (2954 views)

Gold overtook cocoa as Ghana's leading foreign export earner for a second consecutive year in 2005, according to a recent report by the Ghana News Agency.

The Chamber of Mines for Ghana calculated a production increase of 63 per cent in 2005 compared with the figures for 2004, which resulted in export returns of over $900 million, compared with around $730 million the previous year.

Gold exports represented 40 per cent of Ghana's total export earnings, and the sector is in the process of developing capacity and sustainable growth within the country's mining areas.

Two of the largest gold companies in Ghana are urging other concerns to join an alliance that will improve business ethics and promote best practice, carefully monitoring the impact of mining activity within communities.

Newmont Ghana Gold and Gold Fields Ghana established the agreement earlier this month in connection with international representatives concerned with protection of the environment and national development.

The companies have committed millions of dollars in investment to the alliance and have expressed hope for a 'new era' of mining in Ghana.

 

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