April 12, 2024

Ghana’s gold production surged by 32% last year, allowing it to reclaim the position of the largest gold producer in Africa from South Africa, according to the president of the mines chamber.

After a significant decline in output, Ghana lost its position to South Africa in 2021.

Gold output in Ghana surged from 2.8 million ounces in the previous year to 3.7 million ounces in 2022, driven by substantial growth in both the large and small-scale sectors.

“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.

According to his statement, the increase in output and the expansion of production at existing mines resulted in a 13% rise in the large-scale sector’s contribution to Ghana’s national gold output. It reached 3.1 million ounces in the past year, up from 2.7 million ounces in 2021.

Mortoti highlighted that the member companies of the mines chamber had successfully sold more than 77,620 ounces of gold through the Domestic Gold Purchase Programme. This program was launched by the Bank of Ghana to enhance reserves and support the country’s gold industry.

Culled from Reuters

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