Ghana’s gold production is expected to rise by 6.25% in 2025, reaching 5.1 million ounces, up from a record-setting 4.8 million ounces in 2024, according to the Ghana Chamber of Mines. This projected growth is being fueled by robust artisanal mining activity and the launch of new large-scale mining operations, which are helping to offset declining output from older mines.
The forecast, detailed in the Chamber’s annual report, follows an impressive 19.3% year-on-year increase in gold production in 2024, further cementing Ghana’s position as Africa’s top gold producer, ahead of South Africa and Mali.
Rising global gold prices have boosted Ghana’s export earnings and supported the cedi, aiding the country’s recovery from a prolonged economic downturn. In addition to gold, Ghana also ranks among the continent’s leading exporters of cocoa and crude oil.
Michael Akafia, President of the Chamber of Mines, highlighted that the increase in 2025 will be largely driven by higher production from Newmont’s Ahafo South Mine and Shandong Gold’s Namdini Mine.
Small-scale miners played a critical role in 2024, contributing a record 39.4% of total gold output. However, uncertainties lie ahead due to regulatory changes. In response, the government launched GoldBod, a new agency tasked with streamlining gold purchases from artisanal miners, increasing their earnings, and reducing illegal smuggling. Additionally, the withholding tax on domestic gold purchases has been abolished.
Godwin Armah, General Secretary of the Ghana National Association of Small-Scale Miners, praised the reforms and projected a 30% to 40% increase in small-scale output in 2024, thanks to improved policies. Nonetheless, the Chamber anticipates that small-scale production in 2025 will range between 1.5 million and 2 million ounces, slightly below 2024’s 1.9 million ounces.
Despite artisanal mining’s growth—much of which remains unregulated (70–80%)—concerns persist over environmental harm and its impact on cocoa farmlands.
Some large-scale mines, including Perseus Mining’s Edikan Mine, Gold Fields’ Damang and Tarkwa mines, and Zijin Mining’s Akyem Mine, are projected to see output decline, which may limit overall industry growth. Akafia emphasized the urgent need for increased exploration investments to sustain Ghana’s gold dominance.
Beyond gold, Ghana’s mining sector is also showing strong potential in other minerals:
- Manganese output is expected to climb from 5 million to 8 million tonnes,
- Bauxite production is projected to rise from 1.7 million to 2 million tonnes, and
- Diamond output is forecast to increase from 330,000 to 400,000 carats by 2025.
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