Newmont Ghana’s Ahafo mine increases gold production by 11% in second quarter 2011

Newmont’s Ahafo mine recorded gold production of 146,000 ounces in the second quarter of 2011, the company said July 29, 2011.

Gold production from the mine increased by 11% during the second quarter, Newmont stated in a press release.

“Attributable gold production during the second quarter at Ahafo in Ghana was 146,000 ounces at CAS of $446 per ounce…Gold production increased 11% in the 2011 quarter from the prior year quarter,” it said.

Costs applicable to sales (CAS) per ounce increased by 7% due to higher diesel prices and higher power, labor and royalty costs, partially offset by higher production, noted the Denver-based mining firm.

The company says it will continue to expect 2011 attributable gold production at Ahafo of approximately 550,000 to 590,000 ounces at CAS of between $485 and $535 per ounce.

By Ekow Quandzie