The gold mining activities in West Africa continue unabatedly in Q2 in 2020 following the strong growth in 2019, despite the pandemics significant impact. Under the leadership of Ghana, Burkina Faso and Mali, which are among the continents leading markets, the sector continues to evolve, develop and grow on a daily basis. According to research data, gold production in West Africa's three leading markets is expected to reach 8.4 million ounces (moz) in 2024.
Commenting on the gold mining market in the region, HACIOGLU Gold Mining CEO Yasin HACIOGLU said, "West Africa is currently one of the most important regions globally for the gold industry, but we also believe there is still huge potential for gains and market share. With that, our company has increased its capital more than $2.4 billion to expand existing extensive multi-territory gold operations towards our newest West African strategy."
Thomas Benn, the company's General Director, has also joined the HACIOGLU mining team's West Africa operation. His experience in the region and cross-border deal structuring coupled with his hands-on approach will assist in exerting a similar presence in West Africa to the existing and hugely successful East African activities. A $200 million investment over the next 5yrs is predicted accordingly.
Thomas is quoted as, "We want to bring not only our expertise in the gold and mining sector to the region but also become a valued participant within the community through reinvestment in education, healthcare and hospitality."
HACIOGLU Gold Mining with its significant success in Africa since 2011 is pleased to receive The World Economic Forums international mining award for Africa presented every 5 years since 2018.
Looking ahead, HACIOGLU's work in Africa continues at full speed. The gold collection is initiated to further enhance West African operations to become a world brand proudly representing Turkey on a global stage. Yasin also comments that, "We also strongly believe that opportunity for other companies to use our success as a springboard to establish themselves in the region and in doing so provide enhancement and value to the local economy will increase'
The mining sector is on the rise in Turkey and HACIOGLU's will export 1 tonne of Gold from West Africa to Istanbul by 2023. This is our goal, and this will be achieved.