Ghana’s gold production to jump to 6.25%

Ghana’s gold production is set for substantial growth in 2025, with the Ghana Chamber of Mines projecting a 6.25 per cent growth to close to 5.1 million ounces.

This upward trend is primarily drive by increased production from artisanal and small-scale mining (ASM) operations and the entry of new large-scale mines, that have together mitigated declining yields from mature assets.

As per the chamber’s current annual report, gold output increased by 19.3 per cent in 2024, strengthening the position of Ghana as Africa’s top gold producer, ahead of South Africa and Mali.

The report forecasts gold output fall within the range of 4.4 and 5.1 million ounces in 2025, supported by continuous increase in contributions from Newmont’s Ahafo South Mine and Shandong’s Namdini Mine.

Small-scale miners played a critical role in Ghana’s gold production in 2024, accounting for a record 39.4 per cent of total gold production. The chamber forecasts small-scale production fall within the range of 1.5 million and two million ounces in 2025, in comparison to 1.9 million ounces in 2024.

To help artisanal producers and deal with potential regulatory challenges, the government has launched initiatives such as the GoldBod programme to promote the purchases of gold and deal with smuggling.

Regardless the positive outlook, a lot of key mines are expected to experience decline in output, including Perseus’ Edikan Mine, Gold Fields’ Tarkwa and Damang operations and Zijin’s Akyem Mine.

The chamber warned that Ghana need to reinforce its pipeline of exploration projects to maintain long term output. Beyond gold, the chamber forecasts a promising future for other mineral exports.

The production of Manganese is set to rise to 8 million tonnes in 2025 from 5 million tonnes in 2024, while bauxite output is expected to reach 2 million tonnes from 1.7 million tonnes. Diamond production is expected to increase to 400,000 carats from 330,000 carats last year.

The growth in mineral production is set to have a favorable influence on  Ghana’s economy, with increasing global prices for precious metals and accelerated production volumes achieving export earnings and supporting the cedi’s stability.

This, in turn, will provide improvement to the country’s continued economic growth. The country’s gold production is expected to rise in 2025,  powered by increased production from small-scale mining operations and new large-scale mines. Despite the upcoming hurdles, the country’s mineral sector is set for growth, with a positive outlook for gold and other minerals which is set to boost economic prosperity and facilitate recovery.

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