Select Page

Ghana retakes top spot among African gold producers

Ghana retakes top spot among African gold producers

The President of the Ghana Chamber of Mines claims that Ghana has surpassed South Africa to reclaim its position as the continent’s top producer of gold.

The nation’s astounding 32% increase in gold output last year marked a major return following a noticeable decrease in output.

Due to a substantial decline in output levels in 2021, Ghana ceded its top spot to South Africa.

The situation has changed, though, as Ghana’s gold production surged to 3.7 million ounces in 2022, up from 2.8 million ounces the year before.

Increased production in both the large-scale and small-scale industries is to blame for this exceptional expansion.

During the annual general meeting, Joshua Mortoti, the President of the Ghana Chamber of Mines, highlighted the extraordinary achievement: “The large-scale gold sub-sector achieved its highest output in the country’s history in 2022.” 

He further explained that a combination of heightened production and the expansion of existing mines contributed to a 13% rise in the large-scale sector’s contribution to the national gold output, reaching 3.1 million ounces last year compared to 2.7 million ounces in 2021.

Additionally, Mortoti revealed that member companies of the mines chamber had successfully sold over 77,620 ounces of gold through the Domestic Gold Purchase Programme. This initiative, launched by the Bank of Ghana, aims to bolster the nation’s gold reserves.