Newmont to increase gold output in Ghana

Newmont (NYSE: NEW) plans to double its gold production at the Ahafo mine in central Ghana, the Ghanaian Chronicle reports.

The company said it will build a second mill as part of it's African growth plan. The expansion will boost the mine's production from about 600,000 to 800,000 ounces per year.

Construction is expected to start in the second quarter of 2014 and last for two years with operations beginning in the third quarter of 2016.

Newmont's Ahafo operation and Akyem project comprise about 20% of its core assets worldwide.

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