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According to the president of the mines chamber, Ghana experienced a significant 32% increase in gold production last year, reclaiming its position as the largest gold producer on the African continent from South Africa. This comes after Ghana lost the top spot to South Africa in 2021 due to a significant decline in output.
In 2022, Ghana’s gold output surged to 3.7 million ounces, up from 2.8 million ounces the previous year. This 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 that the large-scale gold sub-sector achieved its highest output recorded in the country’s history in 2022. As a result of increased output and expansions at existing mines, the large-scale sector contributed 13% more gold to national output last year, reaching 3.1 million ounces compared to 2.7 million ounces the previous year. Because of increased output and expansions at existing mines, the large-scale sector contributed 13% more gold to national output last year, reaching 3.1 million ounces compared to 2.7 million ounces the previous year.
Mortoti also mentioned that member companies of the mines chamber had successfully sold over 77,620 ounces of gold under the Domestic Gold Purchase Programme. This program, initiated by the Bank of Ghana to bolster reserves, has supported the industry.
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Source: Omanghana.com
