It’s no surprise that Africa is literally a “gold” mine thanks to its available resources. In recent times, various countries have set up operations to take advantage of these resources, especially those which can benefit the mining industry. Canada is one such country that has consistently carried out mining operations in Africa for quite some time now, gaining a reputation for being a powerhouse in the mining sector.
Canadian Companies Aim to Establish a Monopoly
Canadian Gold mining operations are dominant in Africa. According to statistics, 155 Canadian companies were operating in more than 39 African countries in 2011. These companies were hardly limited to exploration; they became in charge of developing gold oriented locales almost instantaneously. In fact, Toronto has established itself as source of raising funds to broaden the mining exploration in Africa.
Companies such as “Stellar” work with long terms goals in mind. These include being able to develop gold resources with growth opportunities primarily in West Africa, which is where most Canadian mining operations are taking place. This growth is achieved through relentless acquisitions and making effective use of the subsidies offered by the government.
Why West Africa is Explored Extensively
Canadian mining companies have set their eyes on West Africa for a number of reasons, including:
- The area is home to the most significant of gold reserves ever encountered before in Africa or the world.
- The gold mines located on a regular basis are providing gold that is of export quality. This, as a result, makes Canada a major player in terms of providing high quality gold in the world market.
- The increasing growth and investments in the gold mining sector of Africa are solely due to the discoveries of new reserves in the region. Apart from well established countries like Mali and Ghana, huge reserves have been found in Guinea, Faso, Sierra Leone and Liberia.
- The reserves located in Africa are easy to extract. Since the land is still new to mining operations, more focus is being placed on open-pit deposits. This not only means that there is no need to work underground, but it also makes the extraction of gold quick and refined.
However, the tasks of mining and exploration are not limited to Western Africa only. There are various unexplored grounds in North East Africa. Experts believe that it can be a new major mining region with untapped resources waiting for the picking.
With investments and new technologically advanced machinery being brought in, it is not surprise that Canadian companies wish to enforce sustainable mining. Through this set of best practices, they can make sure that they can extract gold without causing the destruction of the surrounding land and vegetation.