Ghana's gold output drops

Ghana's gold output drops

Revenue from gold has dropped from $3.84 billion to $3.32 billion in 2015, Ghana’s total gold output has also reduced from 107 tons to 95 tons.

According to a report issued at the 88th Annual General Meeting of the chamber of mines the drop in the volume of gold is attributed to the suspension of mining by AngloGold Ashanti at its Obuasi mine.

Also the power instability that characterized 2015 was blamed for the dip. The revenue shortfall is also due to the slump in gold price across the world.

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But regardless of the above shortcomings Ghana maintained its position as the 10th leading producer globally.

Records from the Ghana Revenue Authority show that the industry contributed GHC1.35 billion to the national economy in 2015.

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