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{d92ab3b81278fa32ec35786d86dccf793342d8d7f71beafb1273a3698bd09060}, the Chamber stated that gold revenue increased by 28{d92ab3b81278fa32ec35786d86dccf793342d8d7f71beafb1273a3698bd09060} in 2011 due to the rising price of the metal.

The Chamber also acknowledged a 9.8{d92ab3b81278fa32ec35786d86dccf793342d8d7f71beafb1273a3698bd09060} 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{d92ab3b81278fa32ec35786d86dccf793342d8d7f71beafb1273a3698bd09060} over the same period.

Story by Claudia Andrews

SOURCE: www.ghanabusinessnews.com