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PNG economy more gold-focussed than any other : Study

Staff Reporter | 6:05 AM | ||
ABC Radio Australia

Gold mining contributes a higher proportion of economic activity in Papua New Guinea than it does in any other major mining country in the world, according to a ground-breaking new report on ‘The Direct Economic Impact of Gold’.

The independent report, by PriceWaterhouseCoopers, was commissioned by the London-based World Gold Council and is the first to examine the whole value chain for gold.

It shows that in 2012 gold contributed 15 per cent of PNG’s Gross Domestic Product. Ghana and Tanzania were next, with gold adding 8 per cent and 6 per cent to total economic activty.