Gold's rally drives a rush to one of metal's final frontiers


By Felix Njini
Bloomberg News
Wednesday, October 23, 2019

Step aside, Canada, Australia, and South Africa: West Africa is fast becoming the hottest ticket in gold mining.

Producers and prospectors are pouring money into the region as prices rally and the industry at the southern tip of the continent keeps shrinking. While gold miners face a dearth of new discoveries globally, large parts of West Africa have barely been explored. The deposits tend to be shallow -- meaning easy access -- and relatively low-cost.

... Dispatch continues below ...


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At least two new projects started up this year and a further two are scheduled for 2020. AngloGold Ashanti Ltd. is also expanding and modernizing its Obuasi mine in Ghana and Canada's Iamgold Corp. is considering a new operation in Senegal. In July, Resolute Mining Ltd. agreed to buy another West Africa-focused producer. ...

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