Business News of Tuesday, 18 January 2011

Source: --

Gold output up 3%

Gold output from Ghana, Africa's second largest producer of the precious metal, rose 3 percent during the first nine months of 2010 compared to a year earlier, the government said on Tuesday.


The West African nation produced some 2.24 million ounces of gold during the period, versus 2.17 million ounces in the first nine months of 2009, according to figures released by the Ghana Chamber of Mines.

Revenues from gold mining, meanwhile, rose 30 percent to $2.611 billion, according to the figures.

Ghana is Africa's second biggest gold miner behind South Africa, and is also the world's No. 2 grower of cocoa.


Diamond production fell 1 percent to 265,034 carats, while revenue from sales of the gems almost doubled to $9.2 million, it said. Output of bauxite, used to make aluminum, rose 30 percent to 470,227 metric tons, while earnings from sales of the raw material jumped 71 percent to $13.9 million, it said.

Manganese production declined 1 percent to 756,439 tons while earnings from the metal increased 1 percent to $49.2 million, the chamber said.


Production (Nine Months 2010) (Nine Months 2009)
Gold (ounces) 2,235,881 2,173,182
Diamond (carats) 265,034 267,594
Bauxite (tons) 470,227 361,440
Manganese (tons) 756,439 764,377

Revenue (US$) (Nine Months 2010) (Nine Months 2009)
Gold 2,611,116,019 2,003,702,846
Diamond 9,160,070 4,865,007
Bauxite 13,886,325 8,134,142
Manganese 49,197,977 48,789,224

Production (Third Quarter 2010) (Third Quarter 2009)
Gold (ounces) 780,646 767,567
Diamond (carats) 63,242 90,313
Bauxite (tons) 168,738 86,600
Manganese (tons) 192,488 315,723

Revenue (Third Quarter 2010) (Third Quarter 2009)
Gold 928,185,456 715,771,359
Diamond 2,306,829 2,108,032
Bauxite 5,062,140 1,862,766
Manganese 12,016,500 20,733,199