Output Trebles As Price Rockets
Official data released by the Kenyan government shows that metal minerals performed better in 2009 than non-metal minerals.
Earnings from gold rose almost four times to Sh2.3 billion ($276 million) against Sh593 million ($72 million) in 2008 as the price of gold – traditionally a safe haven in times of recession – rose sharply on the international market. Production more than trebled from 0.3 tonnes to 1.1 tonnes.
Fluorspar brought in Sh123 million ($14.5 million).
The price of gold rose from $834 per ounce at the end of 2008 to $1095 per ounce at the end of 2009. The current price is around $1179 per ounce.
Prices of gold in the international market have leapt from $834 per ounce by close of 2008 to $1,095 by end of last year.