Ghana is a modern mining powerhouse, number one for gold in Africa, with a democratic government that wants mining to grow and thrive and keep putting millions into its tax base. We’re in the right place at the right time.
Greg Smith, VP Exploration
Why Newcore is Here
- Ghana is Africa's largest gold producer, 7th largest worldwide and produces more gold per square km than Nevada1
Ghana produced ~5 million ounces of gold in 2019, surpassing South Africa's 2019 production of ~4.2 million ounces1. Per square kilometer, Ghana produces more gold per square kilometer than Nevada and holds more estimated reserves than key gold-producing countries like Peru and Papua New Guinea. Southern Ghana has been considered one of the world’s most prolific regions for gold discoveries for some time, with both gold producers (including Gold Fields and AngloGold Ashanti) and explorers enjoying success there including Shandong Gold’s takeover offer for Cardinal Resources in 2020.
- Ghana’s stable, democratic government supports mining
Ghana’s political stability is underpinned by strong democratic credentials. The mining industry accounts for over 50% of foreign direct investment and is the largest tax-paying sector in the country.2
- Mining and gold are essential to Ghana’s economy and tax base
Gold contributes over 90% of Ghana’s total mineral exports3 and makes up 49% of the country's total export value.4
- Ghana features the Prolific Bibiani Gold Belt
Ghana’s prolific Bibiani Shear zone, location of Newcore’s Enchi project, hosts several multi-million ounce gold deposits. Mines are operated by some of the world’s largest gold companies including Newmont and Kinross.
- Ghana offers a modern infrastructure and skilled mining labor
Ghana has an advanced infrastructure platform compared with most African countries, including water, electricity and mobile networks as well as a good network of roads and highways. The country’s long history of mining has provided a skilled and well-educated mining workforce.
- English is the primary language
An English-speaking populace makes business relatively easy to conduct.
1 Information sources: 2019 production volumes and ranking for Ghana and Africa sourced from the World Gold Council; Nevada details as per the Nevada Division of Minerals - Major Mines of Nevada 2019 publication
2 International Council of Mining & Metals, Mining in Ghana, What Future Can We Expect?
3 ghanaweb.com, June 12, 2019 - Economic Impact of Mining in Ghana
4 oec.world, Ghana Economic Complexity