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Business News of Sunday, 3 June 2018

Source: citibusinessnews.com

Gold production increase by 10.2% in 2017

Ghana’s gold output rose to 2.805 million ounces in 2017, up 10.2 percent from the previous year, data from the Ghana Chamber of Mines has indicated.

The growth reflected a general increase in output across most of the 12 mining firms operating in the country, the chamber said.

Total gold revenues amounted to $3.52 billion in 2017, up from $3.25 billion the year before.

Ghana is Africa’s second largest gold producer after South Africa.

Mining firms operating in the country include Newmont Mining Corporation, Gold Fields, Anglogold Ashanti and Asanko Gold.

Manganese production increased to three million tonnes in 2017 from two million the year before.

However diamond output declined to 86,924 carats from 143,000 carats the previous year, the chamber said.