February 1, 2012 / 1:03 PM / 6 years ago

UPDATE 1-Golden Star to reopen Ghana plant, sees output to rise

Jan 31 (Reuters) - Golden Star Resources said it will restart its oxide plant at the Bogoso/Prestea gold mine in Ghana, and the miner expects the output from the mill to push up its 2012 production.

The plant, which stopped operating in 2008 due to lack of oxide ore, is expected to generate up to 70,000 ounces of gold this year, Golden Star said in a statement.

Last September, the company said it has resumed mining at its Pampe gold deposit in Ghana.

The company now expects 2012 output between 350,000 and 370,000 ounces of gold, up from 301,000 ounces last year. For the first quarter, it expects to produce 79,000 ounces of gold.

The full impact of the mill will not be reflected in production till the second quarter, Golden Star said.

Shares of the company, which have lost nearly half their value in the last one year, closed at C$2.19 on Tuesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Joyjeet Das)

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