TOP 10 Gold Producing Countries in Africa

Top 10 Gold Producing Countries in Africa
Hello Displorers, welcome back to another informative video and thanks for watching. In today’s video, we shall be looking at the top 10 gold producing countries in the Africa. Gold has been one of the most valuable minerals the earth can give from the days of Cleopatra right up to now and will most definitely remain one of the most precious of all. Being so precious means that not all countries are blessed with gold, hence the few who can produce it make millions and even billions of dollars trading in gold worldwide. Africa is most definitely blessed with many natural resources and gold is one of them. According to analysis Africa produces more gold than is ever recorded due to the black market which it mostly exported with the US and Europe being some of the highest consumers of these precious gems.
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The first gold mines in Africa were discovered in South Africa in 1886 and since then, the mining of gold has become such an important part of Africa’s export. Gold production has been steadily increasing since 2008 even though the prices of Gold have been decreasing since 2012. Amongst the greatest producers of gold on the continent, here are the top 10 producers of gold.


10. Guinea - 16 Tonnes Per Annum
Guinea’s gold is predominantly found in the Upper Niger basin in the Siguiri region, in the north-east of the country. The country produces an annual average of 16 tonnes of gold but however, its potential reserves are estimated at 700 tonnes. Gold is becoming an important commodity in Guinea as international exploration funding to the country is increasing significantly. Several companies operate industrially in Guinea to produce gold, including: Guinea Gold Corporation, SAG, an AngloGold Ashanti subsidiary, Dinguiraye Mining Corporation, SMD. In addition, Wega Mining, a subsidiary of Avocet Mining, has held an operating licence since 2015.
9. Ivory Coast - 21 Tonnes Per Annum
It is suggested that Ivory Coast has enough gold to make everyone in the country rich. Ivory Coast, like other African countries, sits on top of the Birimian Greenstone Belt, an extensive area of ancient rocks but not just any type of rocks, gold. These types of belts, called “greenstone” for the colour caused by metamorphic processes, very frequently contain large deposits of valuable minerals, including gold. Gold mining in Ivory Coast has been booming in the last few years, and continues to scale into what will likely be one of the most productive places to mine gold in Africa. Production almost doubled between 2013 and 2015 alone, jumping from 13 tonnes to 23.5 tonnes of gold. With no signs of slowing down, Ivory Coast’s gold mining industry has just received another boost as the Ivorian federal government awarded gold prospecting licenses to three different companies, DS Resources JV Company, Aucrest Sarl, and Laoday. These companies will be searching for valuable gold ore deposits in eastern, northern, and south-western Ivory Coast. Private industry and the Ivorian government aim to hit a target of at least 30 tonnes by the end of 2020. The Tongon mine alone employs thousands of workers and produces about 7.5 tonnes of gold annually which only begins to touch the surface.
8. Zimbabwe - 26 Tonnes Per Annum
Zimbabwe’s Gold Production data currently averages 26 tonnes from December 2017 to 2019, with 28 observations. According to a Zimbabwean official, Zimbabwe will not meet a gold production target of 40 tons it had set for 2020 because of various factors affecting miners. The government had set the target after an encouraging 2018 when production reached 33.2 tons against a target of 30 tons. It is said that one of the issues that demoralized gold miners was the foreign currency retention threshold which the Government reviewed downwards from 70/30 percent to 55/45 percent. Zimbabwe Miners Federation spokesman Dosman Mangisi said most miners were affected by the changes in the thresholds. The reviewing downwards of the thresholds impacted negatively on the mining sector because it made it difficult for miners to procure supplies, plant and equipment, most of which is imported. Due to the government's failure to plug leakages, especially in the small-scale gold mining sector, where players are selling gold on the black market where prices are attractive. Anti-corruption watchdog Transparency International, Zimbabwe in March said the country was losing about 200 million U.S. dollars worth of gold every year, especially in the small-scale mining sector where players were selling it on the more attractive black market. Small-scale miners account for more than 60% of gold deliveries to Fidelity, which is an arm of the Reserve Bank of Zimbabwe.
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