Ghana made $4.6 billion revenue from Gold sales in 2011

According to figures released on June 6 2012 by the Ghana Chamber of Mines, the revenue made from gold mined in Ghana and sold on the international market last year amounted to 4.6 billion dollars. This is a considerable increase from the $3.6 billion generated in 2010. Despite a fall in production by 2%, the Chamber stated that gold revenue increased by 28% in 2011 due to the rising price of the metal.

The Chamber also acknowledged a 9.8% increase in the average aggregated cash cost, which went from $684 million per ounce in 2010 to $751 million in 2011

Asap-Vasa, a Ghanaian owned gold refinery also exported 10.173 ounces of gold in 22011 compared with the 17,133 ounces in 2010, a decrease of 40% over the same period.

Story by Claudia Andrews


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