Ghana Reclaims Top Gold Producer Position in Africa

Ghana Reclaims Africa's Top Gold Producer Position
According to the President of the Ghana Chamber of Mines, Ghana has reclaimed its position as the continent's largest gold producer, superseding South Africa.

The country's gold production increased by a remarkable 32% in the past year, signifying a significant rebound following a notable decline.Ghana ceded its dominant position to South Africa in 2021 as a result of a precipitous decline in production.


However, the tables have turned, with Ghana's gold production skyrocketing to 3.7 million ounces in 2022, up from 2.8 million ounces in 2021.

This extraordinary development is a result of increased production in both the large-scale and small-scale sectors.During the annual general meeting, the president of the Ghana Chamber of Mines, Joshua Mortoti, highlighted the extraordinary achievement: "The large-scale gold sub-sector achieved its highest output in the country's history in 2022." He went on to explain that a combination of increased production and the expansion of existing mines led to a 13% increase in the large-scale sector's contribution to the national gold output, which rose to 3.1 million ounces in 2017 from 2.7 million ounces in 2021.

In addition, Mortoti disclosed that mines chamber members effectively sold over 77,620 ounces of gold via the Domestic Gold Purchase Programme.

This initiative, which was launched by the Bank of Ghana, seeks to increase the nation's gold reserves.