Ghana’s mining industry witnessed a historic shift in 2025 as small-scale miners overtook large-scale producers in gold output for the first time in more than 100 years, underscoring the growing influence of artisanal and community-based mining on the country’s most important export sector.
The milestone was disclosed at the 98th Annual General Meeting (AGM) of the Ghana Chamber of Mines in Accra, where the Chamber presented its annual review of the mining sector’s performance.
According to the report, Ghana recorded broad-based growth across its traditional minerals in 2025, led by a sharp increase in gold production.
Total attributable gold production rose by 23.41 percent, climbing from 4.82 million ounces in 2024 to 5.94 million ounces in 2025.
The most striking development came from the small-scale mining subsector, where output surged by 63.82 percent from 1.90 million ounces to 3.11 million ounces.
The Chamber attributed the strong performance largely to ongoing reforms in the sector, including the establishment of the Ghana Gold Board, which has sought to formalise gold trading and improve regulatory oversight.
As a result of the surge, small-scale mining accounted for 52.4 percent of national gold output, surpassing large-scale mining’s share of 47.6 percent and marking a historic turning point in Ghana’s mining industry.
Large-Scale Producers Lose Ground
The rise of small-scale miners coincided with a modest decline in production among large-scale operators.
Large-scale gold output fell by 2.98 percent, declining from 2.92 million ounces in 2024 to 2.83 million ounces in 2025.
This reduced the sector’s contribution to national gold production from 60.6 percent in 2024 to 47.6 percent in 2025, effectively ending more than a century of dominance by large-scale mining companies.
The Chamber’s producing member companies recorded combined output of 2.77 million ounces, down 3.08 percent from 2.86 million ounces the previous year.
The decline reflected lower production across several operations, although gains at Asanko Gold Mine and AngloGold Ashanti’s Obuasi Mine helped cushion the downturn.
Production was further supported by output from Newmont’s Ahafo Mine, Cardinal Resources’ Namdini Mine, and Zijin Mining’s Akyem Mine, following its acquisition of the asset from Newmont in 2025.
Despite the decline, Chamber-member companies continued to dominate the industrial mining segment, accounting for 98 percent of total large-scale production.
Their share of overall national gold output, however, dropped significantly from 59.4 percent in 2024 to 46.7 percent in 2025.
Implications for the Industry
The shift highlights the increasingly strategic role of small-scale mining in Ghana’s economy at a time when gold remains the country’s largest export earner and a major source of foreign exchange.
Industry observers say the development could reshape policy discussions around mining regulation, environmental management, formalisation and revenue mobilisation.
While the growth demonstrates the economic potential of the small-scale mining sector, it is also likely to intensify calls for stronger oversight to address concerns surrounding illegal mining, environmental degradation and land reclamation.
The Chamber’s data suggests that reforms aimed at formalising the sector are beginning to translate into measurable production gains, although maintaining sustainability will remain a key challenge.
Mixed Performance Across Other Minerals
Beyond gold, Ghana recorded growth in several other minerals during 2025.
Manganese production increased from 5.0 million tonnes in 2024 to 5.2 million tonnes in 2025, representing growth of 3.85 percent.
Bauxite production also expanded by 21.9 percent, reflecting continued investment and operational improvements within the sector.
Diamond production, however, recorded a sharp decline. Output fell from 332,297 carats in 2024 to 197,233 carats in 2025, a drop of 40.65 percent.
The Chamber attributed the fall largely to weaker natural diamond prices, growing competition from lab-grown diamonds and subdued global demand.
A Defining Moment
The 2025 performance marks one of the most significant structural shifts in Ghana’s mining history.
For decades, large-scale multinational mining companies have been the backbone of the country’s gold industry. The latest figures, however, point to a new reality in which small-scale miners have become the single largest source of gold production.
Whether that trend becomes a permanent feature of Ghana’s mining landscape will depend on the success of ongoing formalisation efforts, regulatory reforms and the sector’s ability to balance production growth with environmental stewardship.
