Sub-Saharan Area to be Top Gold Producer
NATIONAL POST (FINANCIAL POST) - 9 March 2005
Sub-Sahara soon to top South Africa as continent's biggest gold producer
Sub-Saharan Africa has emerged as the world's fastest-growing gold producer. Michael Martineau, president of U.K.-based Axmin Inc., told a PDAC presentation that Ghana, Tanzania and Mali have together been home to more major mine discoveries than North America, South America or Australia. These new Sub-Saharan mines account for 75 million ounces of new gold reserves, compared with major discoveries totalling 21 million ounces in Australia, 19 million in North America, and 11.5 million in South America. By 2007, Sub-Saharan Africa, between the Sahara Desert and the Limpopo River, may produce more gold than South Africa, Africa's largest producer.
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