Tuesday, 18th December 2007 (1198 views)

The gold mining industry is a central aspect of economic growth in Ghana, according to a new report.

Historically important to trade activity in the country - known as the Gold Coast by English tradespeople in the 15th century - Ghana still relies on the precious metal, asserts the Telegraph.

A new report in the publication states: "The mining industry continues to play a pivotal role in Ghana's economy today."

Representing some 40 per cent of total export earnings, gold is Ghana's number one export and the country is Africa's second most prolific producer of the commodity.

Among the producers pioneering this activity is said to be Newmont Mining, whose Ahafo project poured its first gold in 2006 and expects to see production of up to 250,000 ounces this year.

A recent open day held by Newmont's Ghana operation emphasised its social initiatives, with beneficiaries of the company's employment training schemes paying tribute to their success, reports the Ghanaian Chronicle.

 

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