Direct economic impact
The report, ‘The direct economic impact of gold’, reveals gold mining made an economic contribution of over US$78.4 billion to the economies of the top 15 mining countries in 2012. Without taking into account the indirect impact of infrastructure, and employment in suppliers to gold mines, gold produced from mines contributed more than twice the gross value added, per tonne, than recycled gold.
Proportionally, however, gold mining has the most substantial impact on growth and wealth creation in developing countries; greatest in Papua New Guinea (15 per cent of GDP), followed by Ghana (8 per cent of GDP) and Tanzania (6 per cent of GDP). For these nations, gold is also a major source of exports and, therefore, foreign exchange earnings. In 2012, gold provided 36 per cent of all Tanzanian exports and 26 per cent of the exports of Ghana and Papua New Guinea.