Adamus Resources becomes Ghana’s newest gold producer, as country’s gold output rises 3%

Australian mining company Adamus Resources becomes Ghana’s newest gold producer when the company poured the first gold at its Nzema gold project, as the country’s gold output rises 3%.

A report by the Mining Weekly says the first gold bar was poured Monday January 17, 2010 from the two million-ton a year processing plant.

“The company’s first gold pour is the culmination of eight years of hard work driven by the belief that the Ashanti gold region represents the next generation of shallow, low-cost, multi-million ounce gold mines,” the publication quoted Adamus CEO Mark Connelly as saying Tuesday.

Connelly was also cited as saying that from a geological and jurisdication perspective, Ghana was arguably the best address for greenfields exploration potential and project development.

“Gold exports account for 40% of Ghana’s gross domestic product, the political environment is stable and supportive of business and we are operating in a region that already hosts over 100-million ounces of gold,” he added.

Meanwhile, figures released by the Ghana Chamber of Mines show that the country’s gold output rose 3% during the first nine months of 2010 compared to 2009.

Ghana produced some 2.24 million ounces of gold during the period, as against 2.17 million ounces in the first nine months of 2009, the Chamber said.

The figures also indicate that revenues from gold mining, rose 30% to $2.611 billion.

By Emmanuel K. Dogbevi
ghanabusinessnews.com