NOT SO GOLDEN FUTURE

"In the past 18 years alone, miners have extracted 36m ounces of the yellow metal from Ghana's seams, generating about 40 per cent of export earnings. Fewer Ghanaians live in poverty now. But a third of them cannot read, and a quarter will not see their 40th birthday. Tax breaks and other incentives mean that of mining revenues totaling $2.1 bn last year, only $146m - or 7 per cent was paid to the state in royalties, taxes and dividends, according to the Chamber of Mining." (Financial Times, 23 March) RD