Mineral Revenue For Half Year Up 19 per cent - Chamber of Mines

Cummulative mineral revenue for the first half of 2012 rose by 19 per cent to $ 2.757 billion compared with $ 2.313 billion for the same period in 2011, the Ghana Chamber of Mines said Friday.

“The impressive first half performance was largely on the back of the performance of mineral revenue from gold and bauxite, despite the dip in revenue from diamond and manganese,” Dr Toni Aubynn, Chief Executive Officer of the Chamber said in a statement issued in Accra.

Gold production during the period was up by six per cent on fresh production from Perseus Mining Ghana and Adamus Resources, which commenced production in the second quarter of 2011.

Gold revenue rose by 20 per cent to $2.693 billion for the half year from $ 2.236 billion for the first half of 2011, while manganese revenue slumped by 24 per cent to $46.981 million from $ 61.489 million.

Bauxite shipments increased by 71 per cent to 295, 993 tonnes from 173,601 tonnes of 2011 while diamond purchase dipped significantly by 33 per cent to 123, 699 carats from 185, 557 carats in the first half of 2011.

“The performance of the mining industry in the area of production six months down the year has been mixed but the generally significant increase in revenue confirms mining’s continuous position as a key fortress for the country’s economy,” Dr Aubynn said.

GNA