HomeGoldGhana gold production rises 12%

Ghana gold production rises 12%

Gold “’ Ghanaian
production rose
12% last year
Accra, Ghana — MININGREVIEW.COM — 07 April 2010 – Gold production in Ghana “’ Africa’s second biggest producer of the precious metal “’ rose 12 % in 2009, with output at the country’s two biggest mines increasing.

Ghana’s mines produced 2.9 million ounces last year, compared with 2.6 million a year earlier, according to data from the Ghana Chamber of Mines handed to Bloomberg News here. Revenue rose to US$2.8 billion (R21 billion) from US$2.2 billion (R16.5 billion).

Gold Fields Limited’s Tarkwa mine “’ the biggest in the country “’ saw production increase 0.8% to 664 515 ounces, the data showed. Newmont Mining Corporation’s Ahafo mine produced 531 470 ounces of gold in 2009, up from 524 000 a year earlier.

Revenue at the Ghana Bauxite Company fell sharply to US$10.9 million (R81.75 million) from US$19.8 million (R148.5 million) in 2008 as production declined 29% to 490 367 metric tonnes, according to the data. While output at the Ghana Manganese Company dropped 7% to 1 million tonnes, revenue climbed to US$64.9 million (R486.75 million) from US$62.3 million (R467.25 million).

The data also revealed that diamond production slid to 354 443 carats from 598 042 carats in 2008, cutting revenue by 63% to US$7 million (R52.5 million).