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Ghana tops Africa with 32% increase in gold production in 2022

  Mon, 12 Jun 2023
Economy & Investments A Gold Bar
MON, 12 JUN 2023 LISTEN
A Gold Bar

Ghana has regained its position as the top gold producer in Africa, surpassing South Africa with a 32-percent increase in gold production in 2022.

This news was delivered by Joshua Mortoti, President of the Ghana Chamber of Mines at the annual general meeting on Friday.

According to Mortoti, the large-scale gold sub-sector recorded its highest output in Ghana’s history in 2022, contributing 3.1 million ounces, compared to 2.7 million ounces in the previous year.

The expansion of existing mines, coupled with the increase in output from both small and large-scale sectors, pushed Ghana’s gold output to 3.7 million ounces in 2022, up from the previous year’s 2.8 million ounces.

Mr. Mortoti also mentioned that member companies of the mines chamber had sold over 77,620 ounces of gold under the Domestic Gold Purchase Programme, a scheme launched by the Bank of Ghana (BOG) to boost reserves.

Ghana’s victory as the largest gold producer in Africa comes after losing its position to South Africa in 2021 due to a drastic fall in output.

The increase in gold production from Ghana is expected to have a positive impact on the country’s economy, creating job opportunities, and potentially boosting exports.

This news will undoubtedly be welcomed by the government, mining companies, and investors, as Ghana continues to show its potential in the mining industry.

-DGN online

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