PNG: The gold producing country nobody was talking about, until now
A fresh report by PricewaterhouseCoopers has put Papua New Guinea’s gold contributions on the economic world chart, as its reveals the sector contributes a higher proportion to the country’s economy than it does in any other major mining country in the world.
The report, commissioned by the World Gold Council (WGC), shows the yellow shiny metal contributed 15% of PNG’s Gross Domestic Product (GDP) and made up 26% of its exported products in 2012.
“These are very significant numbers when looked at within the national context,” WGC’s Director for Development Terry Heymann told Radio Australia’s Pacific Beat Thursday.
Ghana and Tanzania were next, with gold contributing 8% and 6% to total economic activity.
Papua New Guinea’s gold industry currently employs about 16,000 people.
Image from Wikimedia Commons