SA loses the gold crown to Ghana
The West African country, formally called the Gold Coast, is benefiting from lower-cost mines and friendlier policies
SA’s struggling gold industry has suffered yet another humiliation, losing its status as continent leader to Ghana.
The country that led global gold production for a century and extracted about half the bullion ever mined is now Africa’s second-largest gold producer. Output is shrinking as operators capitulate to stubbornly high costs, regular strikes and the geological challenges of tapping the world’s deepest mines.