Ghana’s Gold Output to Rise 6.25% to 5.1 Million Ounces in 2025 – Chamber of Mines

Confidence UbaniMay 30, 20251 Mins read1.2k

Ghana’s gold output is projected to rise by 6.25 per cent to 5.1 million ounces in 2025, according to the Ghana Chamber of Mines. This follows a record production of 4.8 million ounces in 2024, driven by artisanal mining and new large-scale operations.

The 2025 forecast, published in the Chamber’s annual report, spotlights Ghana’s impressive gold output in 2024. The rise was driven by higher artisanal production and new large-scale operations, which helped offset declines at ageing mines.

The surge in output has enabled Ghana to maintain its position as Africa’s top gold producer, surpassing South Africa and Mali. Gold prices have also climbed, which boosted the country’s export earnings and strengthened the cedi amid efforts to recover from a severe economic crisis.

Additionally, earlier this month, the Ghana Gold Board (GoldBod) signed a deal with nine new large-scale mining firms to supply 20 per cent of their gold output under the central bank’s domestic gold purchase programme. The formal agreement was slated to be executed on 15 May, with operations set to begin on 1 June.

The companies include Adamus Resources, Akroma Gold, Cardinal Namdini Mining, Earl International Group, Gan He Mining Resource Development, Golden Team Mining, Goldstone Akrokeri, Prestea Sankofa Gold, and Xtra Gold Mining.

Under the deal, these firms will deliver gold doré bars to GoldBod’s Assay Laboratory at Kotoka International Airport. They will be paid in cedis at a 1 per cent discount to the London Bullion Market spot price.

The combined monthly output of the new participants is approximately 200 kg, according to a GoldBod spokesperson, quoted by Reuters.

Ghana’s gold reserves have grown significantly, from 8.77 tonnes in 2022 to 30.8 tonnes as of February 2025. This increase pushed gross reserves to $9.4 billion. Notably, some West African countries are now seeking greater value for their gold and natural resources.

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