Ghana reclaims position as Africa's top gold producer

Ghana has regained its status as the largest gold producer on the African continent, surpassing South Africa, according to the President of the Ghana Chamber of Mines.

The country experienced a remarkable 32% surge in gold production last year, marking a significant rebound after a notable decline in output.

In 2021, Ghana yielded its leading position to South Africa due to a sharp drop in production levels. 

However, the tables have turned, with Ghana's gold output soaring to 3.7 million ounces in 2022, up from 2.8 million ounces the previous year. 

This remarkable growth can be attributed to increased production in both the large-scale and small-scale sectors.

During the annual general meeting, Joshua Mortoti, the President of the Ghana Chamber of Mines, highlighted the extraordinary achievement: "The large-scale gold sub-sector achieved its highest output in the country's history in 2022." 

He further explained that a combination of heightened production and the expansion of existing mines contributed to a 13% rise in the large-scale sector's contribution to the national gold output, reaching 3.1 million ounces last year compared to 2.7 million ounces in 2021.

Additionally, Mortoti revealed that member companies of the mines chamber had successfully sold over 77,620 ounces of gold through the Domestic Gold Purchase Programme. This initiative, launched by the Bank of Ghana, aims to bolster the nation's gold reserves.