Ghana’s gold production increased by 23.41 percent in 2025, from 4.82 million ounces to 5.94 million ounces, mostly due to a record-breaking growth in small-scale mining output.
With a national output of 52.4%, small-scale gold production rose from 63.82 percent in 2024 to 3.11 million ounces in 2025 thanks to measures like the creation of the Ghana Gold Board (GoldBod).
However, from 2.92 million ounces in 2024 to 2.83 million ounces in 2025, large-scale gold production fell by 2.98 percent, and as a result, its share of the country’s output decreased from 60.6% to 47.6%.
Producing member businesses of the Chamber of Mines contributed 2.77 million ounces in 2025, a minor decrease from 2.86 million ounces in 2024.
With the exception of Asanko Gold Mine and AngloGold Ashanti’s Obuasi Mine, which were backed by Newmont’s Ahafo Mine, Cardinal Resources Limited’s Namdini Mine, and Zijin’s Akyem Mine, the results showed reduced output across the majority of operations.
While national output fell from 1.2% to 1.0%, other non-Chamber large-scale mines boosted output from 0.055 million ounces in 2024 to 0.057 million ounces in 2025, a growth of 2.0%.
Speaking during the 98th Ghana Chamber of Mines annual general meeting in Accra over the weekend, Mr. Michael Edem Akafia, the Chamber’s immediate past president, stated that overall mining revenue increased by 10.61 percent, from GHS21.90 billion to GHS24.22 billion.
He pointed out that gold became Ghana’s largest economic subsector when its share of the country’s GDP rose from 7.97 percent in 2024 to 9.98 percent in 2025.
Mining employment also improved, with Chamber member companies reporting a 21.52 percent growth in direct workforce from 11,372 in 2024 to 13,819 in 2025. Through multiplier effects, this increase supported an estimated 207,285 indirect and induced jobs.
According to Mr. Akafia, large-scale gold production was predicted to be between 3.2 and 3.4 million ounces in 2026, while small-scale production was anticipated to be between 2.9 and 3.5 million ounces.
“This outlook will depend on policy certainty, regulatory reforms, lease renewals, improved governance of small-scale mining, and continued investment across the minerals value chain,” he said.
Mr. Akafia asked the next Chamber leadership under new President Fred Attakumah to keep pushing for a comprehensive review of the mining fiscal regime as he wrapped off his two-year term.
He pointed out that Ghana’s effective mining tax burden might rise to between 54 and 58 percent under the new royalty regime, making it one of the highest in the world. This would have major ramifications for future exploration and investment.
In his statement at the AGM, Lands and Natural Resources Minister Mr. Emmanuel Armah-Kofi Buah referred to the mining industry as the backbone of Ghana’s economy, the main source of foreign exchange revenues, and a key component of the country’s development.
He praised the Chamber for its role in the country’s development and reaffirmed the government’s commitment to keeping Ghana’s investment climate competitive and appealing.
The Minister called for increased stakeholder collaboration and stated that this would be done while optimising the long-term socioeconomic advantages from mineral resources for current and future generations of Ghanaians.
He said that continuing changes, including as the review of the National Mining Policy and the Minerals and Mining Act 703, which are presently before Cabinet and on their way to Parliament, will enhance environmental protection, regulatory efficiency, and transparency.
Regarding local content and involvement, the Minister stated that the government would make sure Ghanaians held leadership roles in the mining industry and warned that anyone who deviated from this goal would face harsh consequences.
Source: newsthemegh.com