Ghana’s gold output increased to 4 million ounces in 2023, an 8.3% increase from the previous year’s 3.7 million ounces, according to figures released by the Ghana Chamber of Mines.
The increase in output from small-scale miners was the main driver of the production growth, and it was enough to counterbalance the decrease in output from the large-scale sub-sectors.
Since the start of the COVID-19 pandemic, this is the nation’s highest output.
The large-scale subsector’s share of the gold production fell from 3.1 million ounces in 2022 to 2.9 million ounces in 2023, representing a 4.9% decrease.
On the other hand, during the same period, the small-scale sub-sector achieved a 70.6 percent growth in its comparable output, rising from 0.66 million ounces to 1.1 million ounces. Between 4.3 and 4.5 million ounces of gold are expected to be produced in 2024, according to forecasts. The Namdini Gold Mine by Cardinal Resource and the Ahafo North project by Newmont are two new initiatives that will fuel this expansion.
Up to 5 million tonnes of manganese, 1.5 million to 1.5 million tonnes of bauxite, and 220,000 to 250,000 carats of diamonds are anticipated to be exported.
