Gold price pushes producer inflation upward

The slight revival in the global gold price has pushed the producer price index upward, as producer inflation in the mining and quarrying subsector increased by 8.9 percentage points over the January 2014 rate of -5.8 percent, jumping to ... — Read More

Ghana's gold output slumps to record low

Gold production declined 5 percent in 2013 as declining prices and the Obuasi Mine’s challenges drove the industry into a slump, according to official figures. Output fell from 4.324 million ounces in 2012 to 4.12 million ounces last year following a 28 ... — Read More

Gold output to dip by 17 percent

Minerals Commission anticipate a dip in gold output by 17 percent this year after declining prices prompted some mines to cut production.Benjamin Aryee, Chief Executive Officer of the Minerals Commission, told B&FT in an interview that data collected from some six ... — Read More

Gold Fields remains largest taxpayer in Club 100

For the fourth consecutive year Gold Fields Ghana has been announced as the leading taxpayer in the country, paying over US$250million in corporate taxes, dividends and royalties to government last year. The company, which operates the Tarkwa and Damang mines in the ... — Read More

Akyem mine expects 350,000 ounces in five years

 Newmont Ghana says gold production outlook from its Akyem Mine is expected to reach approximately 350,000 ounces in the next five years.Akyem Mine, with an estimated 7.4 million equity ounces of gold reserves located in the Birim North District of the ... — Read More

Gold Fields shedding 600 jobs

About 600 staff of Gold Fields Ghana’s Tarkwa and Damang mines are to be laid off by next month as the mining firm battles rising costs and falling prices.Alfred Baku, Senior Vice-President and Head of the West Africa Region, told B&FT ... — Read More

Mineworkers want 20% of gold processed

Mineworkers, who are threatened with job losses after the industry entered the doldrums in 2013, want legislation to require at least 20 percent of Ghana’s gold to be processed in-country to brighten the industry’s prospects. Prince William Ankrah, General Secretary of the ... — Read More

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