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Africa's Biggest Fund Manager Sees Gold Boom in West Africa

  • South Africa’s PIC looking at nations from Ghana to Mali
  • West Africa has longer-term mining investments the PIC prefers
Gold Bar Casting And Krugerrand Minting At Rand Refinery Ltd.
Photographer: Waldo Swiegers/Bloomberg
Updated on

Africa’s largest money manager sees “significant investment opportunities” in West African gold mining as the industry at the southern end of the continent declines.

Investor-friendly policies can help Ghana and other countries in the region drive the next “gold-mining boom,” said Lebohang Sekhokoane, a mining research analyst at South Africa’s Public Investment Corp. Low-cost deposits in Mali, Burkina Faso, Guinea and Ivory Coast offer the long-term investment potential the PIC prefers, rather than the five to 10-year lifespan of projects in South Africa, she said.