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Thursday, 11th December 2008 (1405 views)

Ghana's gold exports totalled $1.73 billion (£1.16 billion) in 2007, according to a new report by Companies and Markets.

The study on the mining sector of Ghana, which holds the second-largest gold deposits on the continent after South Africa, forecasts that "the Ghanaian mining industry has a promising future based largely on its untapped mining potential and stable government along with a reasonable tax regime".

Gold forms an estimated 90 per cent of Ghana's total mineral exports and BMI predicts that the mining sector will deliver an annual growth rate of more than 6.5 per cent a year between 2008 and 2012.

The Ghana Mining Report Q4 2008 states that "gold continues to play a crucial role in the Ghanaian economy" and predicts that it will do so in the future.

Ghana's central bank reported in January 2008 that gold exports had risen by 35 per cent in 2007, totalling $1.73 billion over the year, Reuters reports.

 

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