Ghana gold production rises to 4 million ounces in 2023

Ghana’s gold production in 2023 rose by 8.3% to reach 4 million ounces, up from 3.7 million ounces in 2022, according to the Ghana Chamber of Mines.

The increase was as a result of growth in output from small-scale miners, which compensated for a decline in large-scale mining.

The large-scale mining sector saw a decrease in gold production, dropping from 3.1 million ounces in 2022 to 2.9 million ounces in 2023, a 4.9% decline. In contrast, small-scale mining output surged by 70.6%, rising from 0.66 million ounces to 1.1 million ounces.

It is the country’s highest output since the outbreak of the COVID-19 pandemic.

In 2024, Ghana’s gold production is expected to reach between 4.3 and 4.5 million ounces, with new projects like Newmont’s Ahafo North and Cardinal Resource’s Namdini Gold Mine contributing to this growth.

Manganese production is also projected to rise to 5 million tonnes, bauxite production to between 1.2 million and 1.5 million tonnes, and diamond exports to about 220,000 to 250,000 carats.

Story by Y. Adjapong