West African Gold Nowadays And In The Past
West Africa was responsible in the past for the cross-Saharan trade
, exporting many goods among which gold. They exported the precious metal in exchange for other products such as salt and horses. This trade market helped all the empires that colonized the region become wealthier. That is why the area was of great interest for powerful countries. Now, West Africa is still one of the biggest gold producers in the world. The instability known in the region led to a tendency of under-valuation. But governments from countries like Ghana realized the great potential areas like the rich Ashanti gold belt offered and encouraged investments in mining.Many experts are often asked if there is gold in West Africa. Actually the answer stands in its history and in the fact that companies which invested in the area are making great profits. In the past regions like Akan, Bambuhu in Senegal and Bure on the upper Niger were known for their gold trade. When Europeans migrated to this part of the world they found an area with great potential for gold extraction. This led to subsequent waves of migration.
The 19'th century gold rushes affected this region too, like many others in the whole world where the possibility of finding gold attracted many people. Migrants came and organized the activities and mining companies established their headquarters in West Africa. This way, regions like Wassa become famous for their gold. Even though they brought modern technology with them local people preferred to look for gold in the traditional manner.
Mining companies in West Africa were very successful in the 19'th century, that is why many investors are still attracted by the area. Nowadays large quantities are still extracted every year and the production of gold bullion is expected to increase in the next period. Large contributions to the global productions are made by countries like Ghana Mauritania, Mali and Burkina Faso.
Because of its great potential and because of the regions still unexploited investors consider West Africa as one of the best places to set a business. Almost every year, gold is found in new areas of the region.
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