Ghana: a joint-venture with the aim of creating Africa’s largest gold mine

In Ghana, two companies are creating the largest gold mine in Africa. Gold Fields and AngloGold Ashanti have agreed to form a joint venture to unify the operations of two neighboring mines, Tarkwa and Iduapriem, in order to optimize resources and reduce costs.

With an estimated average annual production of 9,000 tons, the joint venture will become the largest gold mine in Africa. This will have a significant economic impact not only on the two companies, but more importantly on the Ghanaian economy. It will also allow to improve environmental and social standards. This initiative is part of Ghana's mining industry reforms to encourage investment and attract new investors to the market.

Ghana became Africa's largest gold producer in 2022, producing 3.78 million ounces of gold, a 33% increase from the previous year. The gold industry plays a key role in Ghana's economy. It accounts for more than 48% of national exports and is a major source of foreign currency for the country.

The Tarkwa and Iduapriem mines will allow Gold Fields to broaden its portfolio and expand after the failed acquisition of the Canadian mining company Yamana, which led to the resignation of its CEO in December 2022.

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