By In 2023, Ghana’s gold production surged by 8.3 percent to reach 4 million ounces, according to data from the Ghana Chamber of Mines. This marked a notable increase from the 3.7 million ounces recorded the previous year.
The growth in production was primarily fueled by an expansion in output from small-scale miners, which managed to offset the decline in production from the large-scale sub-sector.
This output represents the highest level of gold production in the country since the onset of the COVID-19 pandemic.
However, gold production attributable to the large-scale sub-sector experienced a decline from 3.1 million ounces in 2022 to 2.9 million ounces in 2023, marking a downturn of 4.9 percent.
On the flip side, the small-scale sub-sector demonstrated significant growth, expanding by 70.6 percent from 0.66 million ounces to 1.1 million ounces during the same period.
For the year 2024, gold output is projected to range between 4.3 and 4.5 million ounces.
The emergence of new projects such as Newmont’s Ahafo North and Cardinal Resource’s Namdini Gold Mine is expected to contribute to this anticipated growth.
Moreover, manganese production is poised to rise to 5 million tonnes, bauxite to a range of 1.2 million to 1.5 million tonnes, and diamond exports to approximately 220,000 to 250,000 carats.
