Even if it is a small island in the Pacific, Papua New Guinea has many natural resources that makes it a big player on the world market. The exports of oil, gold and cooper add up to 72 percent of the total exports of the country.
The small island is said to have 20 percent more gold than Canada. This is why investors are looking more and more interested in starting mining projects on the island, especially now when the price of gold in continuously on the rise (it has reached 1.300 dollars an ounce) and that people are looking to invest in it. Since 1970’s the economy of the island has been sustained by the exports of these natural resources. The country is really young but even so the mining process is extremely mechanized in comparison with some other parts of the economy such as agriculture. Due to the fact that the island is heavily forested and that it lacks the necessary infrastructure, working the land can be described as being a challenge.
The country has faced political instability this is why the current government is trying to restore the integrity of the public institutions and also to attract more mining projects. The Mineral Resources Authority was created and with the help of this institution the country is looking to attract new investors. Recent studies show that the country was not affected by the economic crisis because the demand for gold was very strong.
Gold has been and will be a very good investment, especially for those that are interested in saving their wealth. With such a commodity in your portfolio your revenues will become more stable. The yellow metal cannot crash on the market from one day to another it can merely lose part of its value. Starting a nest egg with this commodity would be a very wise transaction. In our days, investing in gold has become quite easy especially now when there are specialized websites where you can simply buy the glittering metal from. You can also make a comparison between the 24 hours Gold Prices, you can check the Live gold Price or simply read some related articles.
Welcome in Papua New Guinea. This video is a general presentation of PNG, in all its diversity and wealth.
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