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| Bars of Ghanaian Gold |
Gold production in Ghana climbed to 4.2 million ounces from
3.6 million ounces in 2011, the 2012 figure beats the commission's forecast of
3.9 million ounces.
According to Ghana Minerals Commission, the increase in output
was mainly due to rising prices that encouraged higher output by companies.
Gold prices averaged $1,668 an ounce in 2012 from $1,572 an
ounce a year earlier. Production climbed to 4.2 million ounces from 3.6 million
ounces in 2011, The 2012 figure beats the commission’s forecast of 3.9 million
ounces.
Australian miner Adamus Resources poured its first gold in
January last year. Newmont’s second gold mine at Akyem, located about 125
kilometres (80 miles) northwest of Accra is expected to start commercial
production in 2013 with as much as 450,000 ounces annually.
Bauxite rose to 662,925 metric tons in 2012 from 410,918
tons a year earlier, Diamond output fell to 215,118 carats from 283,368 carat.
Johannesburg-based miners AngloGold Ashanti Ltd. and Gold
Fields Ltd also operate in Ghana, which has West Africa’s second-biggest
economy after Nigeria.
Ghana produced 2.97 million ounces of gold in 2010. Output
was originally seen rising in 2011 but in the end shrunk as a number of firms
focused on longer-term maintenance and expansion projects rather than
maximising existing production.
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