About Ghana

We have chosen Ghana for gold exploration because it is regarded as the most dynamic economy in West Africa. In 2007, Ghana was a winner at the Commonwealth Business Council – African Business awards for the ‘Best Investment Climate’. For both 2007 and 2008 it was recognized by the World Bank as a top global reformer in its ‘Doing Business Report’ of 2008.

The Gold Coast

The government of Ghana is committed to private sector development, is actively engaged in promoting entrepreneurship and believes in creating a competitive climate for local and foreign investment.  In recent years, the government has allocated significant resources to upgrading the nation’s infrastructure. With a constitutional multi-party democracy, free and fair elections every four years, freedom of speech and a fully independent media the country is an attractive prospect for investors. Additionally, we have excellent contacts and relationships within Ghana at all levels.  This has helped us streamline the administrative and legal processes required to establish such an operation.

Ghana’s former name in colonial times was ‘The Gold Coast’. It is home to many of the largest and most successful gold mines in history and it is believed that the country still contains much of the world’s untapped gold reserves. The area has produced and exported gold for centuries. In pre-colonial times, present-day Ghana was one source of the gold that reached Europe via trans-Saharan trade routes.

The richest deposits have been found at the Obuasi mine, mid way between our two sites, and have been mined since the late nineteenth century by what became known as Ashanti Goldfields Corporation (AGC) and AngloGold Ashanti in more recent times.  In overall production volumes Ghana is ranked second in Africa (behind only South Africa).

Despite its illustrious history with gold production, much of Ghana’s known gold belts contain areas which are still relatively unexplored to this day. Goldbank Resources has been able to secure twelve such sites. Importantly, Goldbank has the support of government as the Directors and Managers have lived and worked in Ghana for many years.

During its time under British rule Ghana suffered significant under-development in its infrastructure as the emphasis at the time was on short-term profits from trade.  After independence in 1957 the country was left with only limited trade in several commodities and relatively no manufacturing base. Ghana imported manufactured goods from abroad and the government relied heavily upon duties levied on external trade for revenue.  This imbalance meant that there was little or no funding for infrastructure improvements or manufacturing industry development. The government has therefore been trying to improve its position from that era and is now actively seeking foreign investment to help it improve its position.  This was a key factor in our decision to focus on Ghana for our mining operation.

Another factor making Ghana attractive to foreign investment is bank de-regulation.  The Central Bank introduced a floating exchange system allowing foreign investors to hold foreign exchange with any bank they choose.  This allows investors to more easily extract profits from the country.  The Ghana Investment Promotion Centre strives to assure foreign investors that profits may be repatriated, that property will not be reclaimed and that foreign exchange may be freely moved. Ghana has been described as ‘Africa for Beginners’ and the ‘Peach of Africa’; both terms we believe support our choice.
 
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The Coast Line

Cape Coast was founded by the people of Oguaa. The Portuguese later came to build the Cape Coast castle and so Cape Coast grew around Cape Coast Castle, now a World Heritage Site. It was converted to a castle by the Dutch in 1650, then expanded by the Swedes in 1652 and captured by the British in 1664. Trade was an important motivator in the creation of fortresses and settlements on Cape Coast. The various European countries that came to what is now the coast of Ghana created interpersonal, lasting relationships with the indigenous peoples as a method of ensuring long-term economic gain. Unfortunately, the acquisition of gold, slaves, honey, and the many other African goods that consisted the African leg of the Triangular Trade was increasingly detrimental to the inhabitants of Cape Coast.[2][page needed] The British based their Gold Coast operations in the town until they were expelled because of severe opposition to the “window tax” in 1877. Accra became their state. Cape Coast was also where most of the slaves were held before their journey on the Middle Passage.

Accra stretches along the Ghanaian Atlantic coast and extends north into Ghana’s interior. Originally built around a port, it served as the capital of the British Gold Coast between 1877 and 1957. Once merely a 19th-century suburb of Victoriaborg, Accra has since transitioned into a modern metropolis; the city’s architecture reflects this history, ranging from 19th-century architecture buildings to modern skyscrapers and apartment blocks.It is one of Accra’s beautiful beaches and is maintained by the local hotels. Labadi Beach is near Teshie in the Greater Accra Region of Ghana.

On holidays and weekends there are often performances of reggae, hiplife, Playback, and cultural drumming and dancingAccra stretches along the Ghanaian Atlantic coast and extends north into Ghana’s interior. Originally built around a port, it served as the capital of the British Gold Coast between 1877 and 1957. Once merely a 19th-century suburb of Victoriaborg, Accra has since transitioned into a modern metropolis; the city’s architecture reflects this history, ranging from 19th-century architecture buildings to modern skyscrapers and apartment blocks.It is one of Accra’s beautiful beaches and is maintained by the local hotels. Labadi Beach is near Teshie in the Greater Accra Region of Ghana. An entrance fee to those not staying the hotels is charged. On holidays and weekends there are often performances of reggae, hiplife, Playback, and cultural drumming and dancing.