Abstract
Since the introduction of Structural Adjustment Programs (SAPs) in the 1980s, the gold mining sector has been a major contributor to the economies of many African countries including Ghana. There has been a fall in the global prices of gold in recent times resulting in budget cuts especially those not directly related to corporate prosperity, as well as job losses. This study sought to examine the level of CSR activities in five of the big mining companies operating in Ghana. Findings from the study pointed to a reduction in the profit margins of mining companies as a result of the fallen gold prices, which has invariably affected the volume and nature of CSR activities engaged in by the mining companies in the past 5 years. The study concluded that the fallen price of gold has re-defined the form and shape of CSR activities among mining companies in Ghana.
Gold has motivated entire societies, torn economies to shreds, determined the fate of kings and emperors, inspired the most beautiful works of art, provoked horrible acts by one people against another, and driven men to endure intense hardship in the hope of finding instant wealth and annihilating uncertainty (Bernstein, 2000, p. 1).
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Amponsah-Tawiah, K., Tuokuu, F.X.D. (2017). Effects of Dwindling Gold Prices on Corporate Social Responsibility (CSR) Performance in Ghana’s Mining Sector. In: Idowu, S., Vertigans, S., Schiopoiu Burlea, A. (eds) Corporate Social Responsibility in Times of Crisis. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-52839-7_12
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