Ghana reclaims position as Africa's largest gold producer

Ghana has reclaimed its status as the largest gold producer in Africa, surpassing South Africa, according to the President of the Ghana Chamber of Mines.

Last year, the country witnessed a remarkable 32% increase in gold production, allowing it to regain the top spot.

After experiencing a notable decline in output, Ghana had temporarily relinquished its position to South Africa in 2021.

However, the remarkable surge in gold production saw Ghana's gold output rise to 3.7 million ounces in 2022, a substantial increase from the previous year's 2.8 million ounces.

During the annual general meeting, Joshua Mortoti, President of the Ghana Chamber of Mines, attributed the achievement to the combined efforts of the small- and large-scale mining sector.

“The large-scale gold sub-sector recorded its highest output in the country’s history in 2022,” Joshua Mortoti, the President of the Ghana Chamber of Mines, told members at the annual general meeting.

He highlighted that the large-scale gold sub-sector achieved its highest output in the country's history last year. This feat was made possible by a combination of increased output and the expansion of production at existing mines. The large-scale sector's contribution to Ghana's national gold output rose by 13% to reach 3.1 million ounces in 2022, compared to 2.7 million ounces in 2021.

Furthermore, Mortoti noted that member companies of the mines chamber had actively participated in the Domestic Gold Purchase Programme initiated by the Bank of Ghana. Through this program, they successfully sold over 77,620 ounces of gold, contributing to boosting the country's gold reserves.

GA/DO