Ghana has long been famous for gold. Early European traders called for centuries at its coast to trade for gold nuggets, dust and jewelry. Early this century the fabulous Ashanti mine, near Obuasi, was opened and a gold rush occurred throughout Ghana that brought prospectors and investors from around the world.
A harsh equatorial climate, unknown geology, difficult terrain and over promotion of prospects caused most of these start up operations to fail. The resultant collapse of this boom plunged Ghana into mining obscurity until independence in 1957. Well aware of its geological wealth the Ghanaian Government carried on with its surveys but political turmoil in Ghana precluded strong mining development until the late 1980's. Since then, with enthusiastic support from government and business, Ghana has been enjoying a well founded gold mining boom so that, today, there are approximately 250 land-based gold companies exploring and mining in the country.