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Thursday, 20th November 2008 (1012 views)

Revenues for gold produced in Ghana increased by over a quarter in the last three months, it has been revealed.

The Chamber of Mines has found that in the third quarter of 2008 revenue rose by 28 per cent with sales reaching $561 million (£378 million), compared to $437 million during the same period last year, Bloomberg reports.

Furthermore, the body stated that output had also risen at the same time, noting 646,000 ounces of gold were produced in the country over the last three months - an increase of 2,000 on 2007 levels.

The largest mine in Ghana - the second-biggest producer of gold in Africa - is Tarkwa mine, owned by Gold Fields.

It saw production rise four per cent over the third quarter, with output hitting 156,000 ounces.

Another firm to release promising third quarter results recently was New Gold.

The Vancouver-based firm said that gold sales increased by seven per cent over the quarter.

 

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