Gold Production Increased 3.1% in the First Quarter

Gold production in Ghana, Africa’s largest producer of the metal after South Africa, rose 3.1 percent to 696,172 ounces (19,736 kilograms) during the first quarter from a year earlier, the Chamber of Mines said.

Compared with the previous three months, gold output fell 8.1 percent, the industry association said in a statement handed to reporters today in the capital, Accra.

Earnings from gold sales rose 25 percent to $782.83 million during the quarter from a year ago, the chamber said. Gold futures have climbed by 8.7 percent so far this year on the Comex in New York.

Ghanaian bauxite production rose 16 percent to 212,879 tons during the quarter, while diamond and manganese production increased 86 percent and 64 percent respectively.

1Q 2009 4Q 2009 1Q 2010

Gold (ounces) 675,151 757,146 696,172

Diamonds (carats) 55,382 86,849 102,784

Bauxite (tons) 183,039 128,927 212,879

Manganese (tons) 163,187 248,564 268,068

Revenue (US$) 1Q 2009 4Q 2009 1Q 2010

Gold 625,614,941 839,118,682 782,825,647

Diamonds 800,969 2,126,080 3,267,258

Bauxite 4,330,703 3,023,338 6,165,885

Manganese 9,407,801 16,071,716 17,632,661