Ghana’s gold production soared in 2022, making it the top gold producer in Africa and the 10th biggest producer globally, according to the Ghana Chamber of Mines. The country produced 3.7 million ounces of gold last year, a 32% increase from 2.8 million ounces in 2021. This remarkable achievement was driven by the growth of both large and small-scale mining sectors.
The large-scale gold sub-sector recorded its highest output ever in 2022, contributing 3.1 million ounces to the national gold output, a 13% increase from 2.7 million ounces in 2021. The president of the Ghana Chamber of Mines, Joshua Mortoti, attributed this to the expansion of production at existing mines and the addition of new mines to the sector.
The small-scale gold sub-sector also performed well, producing 0.6 million ounces of gold in 2022, a 23% increase from 0.5 million ounces in 2021. Mortoti said this was due to the improved regulatory environment and the formalization of some illegal miners.
Ghana’s gold production has been boosted by the Domestic Gold Purchase Programme, a scheme launched by the Bank of Ghana to increase its gold reserves. Under this programme, member companies of the mines chamber sold over 77,620 ounces of gold to the central bank in 2022.
Ghana’s gold production has rebounded after a slump in 2021, when it lost its position as Africa’s top gold producer to South Africa. The country has now regained its status as the continent’s leading gold producer and has set its sights on becoming one of the world’s top five producers in the near future.