Easing of political tensions, mining law reforms signal African gold boom

摘要

Several trends have encouraged what is shaping up to be a new gold rash in Africa. Political tensions are "easing, mining laws are being reformed and tax regimes are being liberalized. These factors have coincided with escalating costs for mining in other parts of the world, brought on by tougher regulations and environment-related delays. These events have led mining companies to seek fresh horizons. As a result, 69 major gold property transactions occurred in Africa between January 1990 and December 1994. In its study, African Gold Opportunities, Metals Economics Group (MEG) looked at 173 late-stage gold projects across Africa. These projects were organized by region and analyzed using technical criteria designed to identify potential gold opportunities. The study also analyzed 32 recent transactions, which included information on price and reserves. West Africa is emerging as the new land of exploration opportunity. Geologists are following up on the theory that the Guyana Shield of South America was once connected to West Africa. Company preference for working in this area is clear, the study reported. Forty significant gold properties changed hands in West Africa during the last five years.