Africa’s mining industry has long been a source of significant mineral wealth for the continent. Rich in resources such as gold, diamonds, copper, and cobalt, among others, African countries have.
Many African countries have long debated how to ensure that mineral resource wealth contributes to long-term economic development. It is an especially pressing issue in resource-rich countries that perform poorly.
Ghana’s government is working on a new policy where gold rather than US dollar reserves will be used to buy oil products. Vice President Mahamudu Bawumia disclosed this via Facebook.
South Africa’s Gold Fields Ltd is set to become one of the four biggest gold miners in the world after agreeing to acquire Canada-based Yamana Gold in a $6.7 billion.
Centamin, the operator of Egypt’s only commercial gold mine, expects to pay about $100 million during its first full year of profit sharing with the government in 2017, subject to.
