2. Gold Mining in Africa

Africa being a major producer of Gold in the world accounts for about 30% of the total market playing a large part towards this contribution but it’s not likely that they will be leaders for too long and the numbers are not expected to increase either. Their production cost is the highest in the world with the industry having to deal with issues of Labor and lowering of grades. Another contributing factor is several mines being redundant.
 
Although Zimbabwe had played a prominent role as a major producer of gold in Africa, its current political scenario and accompanying economic climate is not conducive to the industry’s producers to carry on. The latest entrants to the industry in the African continent are Mali and Tanzania. Ghana has also long been a major player in the gold industry while other countries have also made their mark in contributing to Africa’s immense legacy in Gold
 
Tanzania is becoming one of Africa’s largest and major gold producers on the continent. Often in the past the gold mining investors have received tax concessions up to 20 years. But this resulted in the total taxes paid by a single company accounting for less than taxes paid by a single company (Tanzania Breweries), although mining accounts for almost half of Tanzania’s total exports.
 
Guinea’s production of gold is expected to steadily rise in view of the country’s development with expansions into new areas. Their production has been estimated at approximately 10 tones of gold a year.
 
There are several new mines being developed in Mali by several resources such as Anglogold and Randgold Resources who are becoming major producers of gold.
 
The development and mining of African gold has attracted many of the world’s important and largest corporations in the mining industry, with Barrick – Homestake who annually produces an impressive three point eight million ounces of gold.
 
Anglo Gold is also another corporation actively participating in mining in Namibia, South Africa, Tanzania, Zimbabwe and Mali.  With the development of the Yatela deposit, in Mali has made it the second largest gold mine after Sadiola’s reputation in the country.
 
Some of the major issues that the gold mining industry in Africa faces are the humanitarian issues. Under paid laborers are being threatened by the Army and even the increasing recruitment of child labor in some of the small-scale mines in the continent are increasingly becoming an issue. There are even implications where women are over worked more than men for a lesser pay. Governments have shown their concern by reaching out to groups in civil society in an attempt to respond better to these concerns of the community.
 
There are also issues concerning pollution of the environment due to Gold mining. Sodium cyanide which is a chemical used to extract gold and purify it, leaks into the streams and waterways and poisons their drinking water resulting in water pollution when consumed is a cause of killing people, livestock and wildlife. The damage is even more during the rainy seasons when the mining waste which is commonly known to overflow from the dams into nearby streams.
 
Poor management and corruption are the main causes that plague Africa’s mineral resource production and industry, which had instigated the drafting of laws for transparency to being passed as a measure to combat misuse of power, as individual leaders have used their powers to acquire financial gain from the industry.
 

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