Ghana’s gold output may fall by 500,000 ounces
Adam Pike, News Editor
29 Apr 2014, 10:35 a.m.
Gold production in Ghana, the eighth biggest gold producer in the world may fall by as much as 500,000 ounces this year as miners put production on hold according to the Minerals Commission. Increased costs and a lower gold price have made mining unprofitable.
According to spokesman, Daniel Krampah, total output is expected to be 3.1 million ounces in 2014, down from the initial target of 3.6 million ounces. In 2012, Ghana’s gold production reached a record 4.3 million ounces.