Ghana Eyes 5.1 Million Ounces in 2025 Gold Output Surge
Ghana's gold production is projected to reach approximately 5.1 million ounces in 2025, marking a 6.25% increase from the previous year's record of 4.8 million ounces. This forecast, released by the Chamber of Mines, underscores the nation's sustained position as Africa's leading gold producer.
The anticipated growth is attributed to heightened activity in both artisanal mining and the commencement of large-scale operations. Notably, Newmont's Ahafo South Mine and Shandong Gold's Namdini Mine are expected to contribute significantly to the uptick in output.
In 2024, Ghana's gold production experienced a substantial 19.3% rise, bolstering export revenues and strengthening the national currency, the cedi. This surge has been instrumental in aiding the country's recovery from its most severe economic downturn in decades.
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Artisanal and small-scale mining played a pivotal role, accounting for a record 39.4% of the total gold output in 2024. However, the sector faces challenges, with an estimated 70-80% of operations lacking proper licensing, leading to environmental degradation and conflicts over land use.
To address these issues, the government has implemented reforms, including the establishment of the GoldBod to streamline gold purchases from small-scale miners and the removal of a withholding tax on local gold transactions. These measures aim to reduce smuggling and increase formalization within the sector.
Despite the positive outlook, concerns persist regarding the sustainability of production levels. Aging mines such as Gold Fields' Tarkwa and Perseus' Edikan are projected to experience declines in output. The Chamber of Mines emphasizes the need for increased exploration to ensure long-term growth in the mining sector.
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Ghana's gold production is projected to reach approximately 5.1 million ounces in 2025, marking a 6.25% increase from the previous year's record of 4.8 million ounces. This forecast, released by the Chamber of Mines, underscores the nation's sustained position as Africa's leading gold producer. The anticipated growth is attributed to heightened activity in both artisanal mining and the commencement of large-scale operations. Notably, Newmont's Ahafo South Mine and Shandong Gold's Namdini Mine are expected to contribute significantly to the uptick in output. In 2024, Ghana's gold production experienced a substantial 19.3% rise, bolstering export revenues and strengthening the national currency, the cedi. This surge has been instrumental in aiding the country's recovery from its most severe economic downturn in decades. ADVERTISEMENT Artisanal and small-scale mining played a pivotal role, accounting for a record 39.4% of the total gold output in 2024. However, the sector faces challenges, with an estimated 70-80% of operations lacking proper licensing, leading to environmental degradation and conflicts over land use. To address these issues, the government has implemented reforms, including the establishment of the GoldBod to streamline gold purchases from small-scale miners and the removal of a withholding tax on local gold transactions. These measures aim to reduce smuggling and increase formalization within the sector. Despite the positive outlook, concerns persist regarding the sustainability of production levels. Aging mines such as Gold Fields' Tarkwa and Perseus' Edikan are projected to experience declines in output. The Chamber of Mines emphasizes the need for increased exploration to ensure long-term growth in the mining sector.
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