HomeGoldGhana gold output rises

Ghana gold output rises

The carbon in leach (CIL)
plant at the Gold Fields
Tarkwa mine in Ghana
Accra, Ghana — MININGREVIEW.COM — 20 November – 2008 – Gold revenue in Ghana – Africa’s second-biggest producer of the metal – rose 28% in the third quarter of 2008, and there was a slight increase in output.

Revealing this in an announcement here, the Ghana Chamber of Mines said that sales had climbed to US$561 million (R5.7 billion) in the three months to 30 September 2008 from US$437 million (almost R4.5 billion) a year earlier. Production was 646 000 ounces, compared with 644 000 ounces a year earlier, the chamber added.
Output at Gold Fields Limited’s Tarkwa mine – the largest gold operation in Ghana –  rose 4% to 156 000 ounces, while production at Newmont Mining Corporation’s Ahafo mine climbed 25% percent to 141 000 ounces, the chamber said.

It went on to confirm that revenue from diamond sales had fallen16% to US$4.8 million (close to R50 million) as production slumped 16% to 148 000 carats. Output of manganese had declined during the quarter, with sales at Ghana Manganese Co. falling 14% to US$9.9 million (over R100 million) from US$11.5 million (R117 million) as output dropped 37% to 173 000 metric tonnes. Ghana Bauxite Co.’s revenue had fallen 10% to US$5.2 million (R53 million) on a 19% decline in production to 178 000 tons, it concluded.

South Africa is Africa’s biggest gold producer.