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Business News of Wednesday, 30 March 2016

Source: classfmonline.com

Ghana maintains rank as world's 10th biggest gold producer

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Ghana remains the tenth largest gold producer in the world, according to latest statistics from the U.S. Geological Survey, Mineral Commodity Summaries published January 2016.

According to the new ranking of top gold producers by country, China remains the world’s biggest gold producer with a jump from 450 tonnes in 2014 to an estimated 490 tonnes in 2015 – an 8.89% change.

Australia came second with 300 tonnes from 2014’s 274 – 9.49% increase. Russia followed Australia with 242 tonnes in 2015, a 2.02% fall from 2014’s 247 tonnes.

The United States of America came in fourth with 200 tonnes, a 4.76% fall from 2014’s 210 tonnes.

Canada is fifth with 150 tonnes, a 1.32% fall from 2014’s 152. Peru came in sixth with 150 tonnes, a 7.14% jump from 2014’s 140 tonnes.

South Africa was 7th with 140 tonnes, a 7.89% fall in 2014’s 152 tonnes. Mexico is 8th with 120 tonnes, a 1.69% jump from 2014’s 118 tonnes.

Uzbekistan is ninth with 103 tonnes, a 3.00% jump from 2014’s 100 tonnes with Ghana coming in as the 10th biggest gold producing country with 85 tonnes, a 6.59% fall in 2014’s 91 tonnes.

Brazil follows Ghana closely with 80 tonnes, no change from its 2014 production, while Indonesia is 12th with 75 tonnes, an 8.70% jump from 2014’s 69 tonnes.

Papua New Guinea comes in 13th with 50 tonnes, a 5.66% fall from 2014’s 53 tonnes while all other gold producing countries came in 14th with a cumulative 855 tonnes, a 0.35% fall from 2014’s 858 tonnes.

According to the U.S. Geological Survey, Mineral Commodity Summaries table, the only movement was South Africa’s fall from sixth to seventh, after being displaced by Peru in 2015.