Ghana’s gold production rises to 4 million ounces in 2023 — Chamber of Mines

Ghana's gold production increased by 8.3% to 4 million ounces in 2023, up from 3.7 million ounces the previous year, according to data from the Ghana Chamber of Mines.

This marks the country's highest output since the outbreak of the COVID-19 pandemic.

The production growth was primarily driven by an expansion in the output of small-scale miners, which offset a decline in the large-scale sub-sector. Gold production in the large-scale sub-sector fell from 3.1 million ounces in 2022 to 2.9 million ounces in 2023, a decrease of 4.9%.

In contrast, the small-scale sub-sector saw a significant increase, growing by 70.6% from 0.66 million ounces to 1.1 million ounces over the same period.

Gold output is projected to reach between 4.3 and 4.5 million ounces in 2024, with new projects such as Newmont’s Ahafo North and Cardinal Resource’s Namdini Gold Mine expected to contribute to this growth.

Additionally, manganese production is forecast to rise to 5 million tonnes, bauxite to between 1.2 million and 1.5 million tonnes, and diamond exports to approximately 220,000 to 250,000 carats.