Interesting read from todays smh, more like this followed by more good results and the sp will go north at a rate of Knots.
Analysts at the Canadian institutional investment dealer, Clarus Securities, say West Africa is an emerging giant in global gold supply.
''West Africa is the fastest-growing gold producing region in the world with mine production growing at a compound annual rate of 4 per cent over the past nine years compared to total global mine supply, which actually declined by 1 per cent over the same period,'' Clarus said in a recent research note.
Current gold production from the region is about 5.9 million ounces a year. Output is forecast to surge by 43 per cent to more than 8 million ounces over the next three years. Australia produced 7.16 million ounces in the year to June 2009, according to Surbiton Associates
Clarus believed production from West Africa would increase as exploration success in less-surveyed countries such as Ivory Coast, Burkina Faso, Mali, Guinea and Senegal was converted into producing mines.
''We estimate that in two years the West African region will produce more gold than South Africa, standing only second to China,'' Clarus said.
