Ghana is on course to surpass 5 million ounces in gold production in 2025, a record-setting milestone that would further entrench its position as Africa’s leading gold producer. The projection, released by the Ghana Chamber of Mines, reflects a robust rebound in the mining sector, fueled by expanded output from both large-scale operators and artisanal miners.
This bullish outlook was unveiled during the 2025 West African Mining and Power Expo (WAMPEX) in Accra, signaling the sector’s pivotal role in driving Ghana’s macroeconomic stability and foreign exchange resilience.
According to the Chamber, the expected surge in output follows a strong performance in 2023, when domestic gold production soared by 32%, rising to 3.7 million ounces from 2.8 million ounces in 2021 allowing Ghana to reclaim its crown as the continent’s top gold producer.
Acting CEO of the Chamber, Ahmed Dasana Nantogmah, emphasized the strategic importance of the mining sector in national economic planning and praised the government’s gold-backed initiatives for helping stabilize the economy.
“We fully support strategic initiatives aimed at boosting foreign exchange earnings, including the government’s Goldbod program. These efforts are critical to enhancing macroeconomic stability.” Nantogmah stated.
He also spotlighted the increasingly vital role of small-scale miners, who now contribute approximately 40% of the country’s total gold production.
Much of the momentum behind the 2025 forecast is being driven by major mining firms that are ramping up output. Gold Fields Ghana is targeting a production increase to around 660,000 ounces in 2025, nearly doubling its 2024 output of 331,200 ounces. Likewise, Newmont’s Ahafo South Mine is expected to deliver just over 600,000 ounces this year.
These production expansions are the result of strategic capital investment, operational efficiencies, and an improved regulatory environment, reinforcing Ghana’s reputation as a stable and attractive destination for mining investment.
Ghana’s mining sector remains a bedrock of its economy, contributing significantly to government revenue, employment, and export earnings. With gold prices remaining resilient in the face of global economic uncertainty, the sector is well-positioned to anchor broader economic recovery efforts.
