Economy: Africa Gold Rush

Le 14 novembre 2011 par IvoireBusiness - European leaders have consistently failed to come up with solid plans to solve the debt crisis. A new chapter in history comes to light as the economic

landscape is changing as a result of countries struggling with debt, as well as emerging markets in developing countries revealing their asset potential. The uncertainties have caused some Investors to continue with the process of pursuing safe assets. As a result of high Gold prices, there has been a rush in demand margins.
Randgold Resources, the gold mining and production company which mainly operates in Africa has positioned itself very well for the Global Economy which is in crisis. It has locations in Mali, Ivory Coast, Senegal, and the Democratic Republic of Congo. Despite various challenges or setbacks, Randgold has been solidly profitable through the years. Randgold Chief Executive Mark Bristow recently announced that the company is moving back into operations in northern Ivory Coast which is famously known for its agricultural products such as Cocoa. However, the Ivory Coast is rich with Gold, Nickel, Iron Ore, Manganese, and Diamonds that has not received as much attention in terms of development as the Cocoa. Analysts polled by Thompson Reuters expect Randgold’s Q4 earnings to come in at $1.69 a share. The estimate is up from .29 cents the prior year. The full year profit should rise 395% this year, and 58% in the year 2012.
Endeavor Mining based in Nova Scotia Canada is a mining company that operates gold and diamond mines in countries such as Burkina Faso, Ivory Coast, Ghana, Mali, and Niger. It owns the Youga gold mine in Burkina Faso. The Agbaou Gold Project in the Ivory Coast is Endeavor’s most advanced project after Youga. The property covers 469 square kilometers. Agbaou is a feasibility stage project, and it is one the largest undeveloped gold resources in the Ivory Coast. It is readily accessible by paved highway and is within 10 kilometers of the national power grid. It has been reported that Endeavour has an 85% interest in the mining company established to develop Agbaou. The remaining 15% is being held by the State of the Ivory Coast.
Abzu is a gold exploration and development company working in Ghana. It is based in Vacouver, Canada. The company was formerly known as Totem minerals Inc. Abzu has invested several years developing local and national relationships that are key to its strategic land position of highly sought after productive gold belts. Abzu Gold recently announced that initial drill results confirm the presence of, and extend a broad gold mineralized system on the company’s Nangodi project in northern Ghana.
Investor Prince Alwaleed Bin Talal Alsaud is Saudi Arabia’s richest man, and he is looking to invest in Nigeria. Alwaleed’s African private equity firm (Kingdom Zephyr Africa Management Company) has investments in a few African countries in sectors as diverse as hotels, banking, cement production, and energy.
Africa has and continues to be a place of endless resources, and wealth. Therefore the development of assets in African countries should reach its people. The purpose should be to build and provide well being to all of its citizens first before removing the wealth out of the country. A policy that focuses on the people and not greed will allow prosperity for everyone. The people must be allowed to participate in the development of wealth in their own country, and this will restore some dignity that has been violated.

Adina Queen Le Gare

(Deux mains un Coeur)