Omanghana
Ghana strengthened its position as Africa’s leading gold producer after recording historic production and export earnings in 2025.
Data from the Ghana Statistical Service showed that the country produced approximately six million ounces of gold, equivalent to about 187 tones, during the year. The mineral generated an estimated $20.2 billion in export revenue, almost twice the $10.3 billion earned in 2024.
Gold represented 63.1% of Ghana’s total merchandise exports in 2025. Its earnings were also more than double the combined $7.9 billion generated by cocoa and crude oil, highlighting the precious metal’s growing dominance within the national economy.
The increase in gold revenue supported Ghana’s broader economic recovery by helping to rebuild foreign-exchange reserves and stabilize the cedi. The gains came as the country continued recovering from its 2022 debt crisis under a $3 billion International Monetary Fund-supported stabilization program.
A major driver of the surge was not the opening of large industrial mines but the government’s effort to bring more artisanal and small-scale gold production into the formal economy.
The establishment of the Ghana Gold Board, commonly known as GoldBod, in 2025 transformed the domestic gold-trading system. The institution assumed responsibility for purchasing, assaying and exporting gold produced by licensed artisanal and small-scale miners.
Authorities also restricted foreign traders from participating directly in the domestic small-scale gold market. The measures were intended to improve oversight, reduce smuggling and ensure that a greater share of Ghana’s mineral wealth passed through official channels.
Officially recorded small-scale production subsequently increased by more than 60%. The sector reportedly overtook large-scale industrial mining companies in formal exports, accounting for over 100 tones of gold and generating more than $10 billion.
Ghana also increased the proportion of gold that large-scale mining companies are required to sell domestically from 20% to 30%. The policy is designed to retain more foreign exchange within the country and strengthen domestic reserves.
The country’s strategy differs from those adopted by its major West African competitors. While Ghana concentrated on formalizing artisanal mining and centralizing gold purchases, Burkina Faso expanded state ownership and increased the role of its national mining company, SOPAMIB.
Burkina Faso produced an estimated 94 tones of gold in 2025. Its government has pursued greater control over mining assets as part of a broader effort to increase the state’s share of mineral revenue.
Mali, meanwhile, recorded an estimated output of 48.2 tones. The country tightened its mining regulations, increased taxes and expanded state participation in mining projects.
| Country | Estimated 2025 output | Main strategy |
|---|---|---|
| Ghana | 187 tonnes | Formalizing artisanal trade, centralized GoldBod purchases and domestic sales requirements |
| Burkina Faso | 94 tonnes | Expanded state ownership and a larger role for SOPAMIB |
| Mali | 48.2 tonnes | Higher taxes, stricter mining regulations and increased state participation |
Ghana’s record performance demonstrates how improved monitoring of small-scale production can significantly increase official export figures. However, sustaining the gains will require transparent regulation, stronger environmental protections and continued action against illegal mining and smuggling.
Source: Omanghana
