Ghana’s gold revenue to surpass $4 billion this year


Gold in Ghana

ACCRA(BullionStreet): Gold production in Ghana, Africa’s second largest producer, is likely to climb back this year after a below par performance in 2011, according to Ghana Chamber of Mines.

The Chamber of Mines, expects revenue from gold exports to exceed $ 4 billion this year to account for nearly fifty percent of the country’s exports earnings.

Ghana’s gold and diamond production dropped last year by six and thirteen percent respectively since a number of firms focused on longer-term maintenance and expansion projects rather than maximizing existing production.

The majority of the world’s big gold mining companies are already operating in Ghana, with the precious commodity being the country’s main foreign exchange earner, along with cocoa.

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