Ghana's Ashanti people traditionally wear gold

Ashanti, Ghana's leading company and biggest private employer, saw profits fall by 59% to $6.8m (£4.04m) in the first three months of the year.

The company blamed its woes on rising fuel prices, a weak dollar and lower production.

Last month, South Africa's Anglogold announced it was in merger talks with Ashanti in order to try and forge cost cuts in a difficult mining environment.

Speculation has been growing as to whether the Ghanaian government is prepared to surrender its "golden share" - which gives ministers a veto on important decisions such as the sale of assets.

The government is currently in consultation on the matter, with a decision expected in the next few weeks.

If the merger goes ahead, Anglogold will acquire mines in Ghana, Guinea, Tanzania and Zimbabwe and will become the world leader in gold production