Mupane gold production rises 12 percent

The production represents a 12-percent increase on 2009 figures, with the mine leveraging on gold prices that shot past the US$1, 400 mark - its highest level in history.

The figures are in line with Bank of Botswana (BoB) statistics indicating that P460.6 million in gold was exported last year - a record since full-scale gold production began in the country. At US$67.8 million, the exports are also a historic record in US dollar terms. According to IAMGOLD, 2010 financials released last Thursday, Mupane's earnings per ounce in 2010 (as calculated from quarterly averages) were up 53 percent from 2009 on the record prices the precious metal enjoyed during the year. IAMGOLD wholly owns Mupane Gold Mine.