Gold output in Ghana has experienced a slight increase from 3.7 ounces in 2022 to 4 million ounces, as reported by the Ghana Chamber of Mines.
This marks the country’s highest production level since the onset of the COVID-19 pandemic.
Bauxite and diamond revenues have also shown notable rises, although there has been a slight decrease in manganese export earnings.
Manganese production is anticipated to rise to 5 million tonnes, bauxite to a range of 1.2 million to 1.5 million tonnes, and diamond exports to approximately 220,000 to 250,000 carats.
The Chamber of Mines forecasts that gold production for 2024 will reach between 4.3 million and 4.5 million ounces.
During the 96th annual general meeting of the Chamber on Friday (7 June), the president of the Ghana Chamber of Mines, Michael Edem Akafia, disclosed these figures.
Akafia stated that Chamber members recorded mineral revenue of US$5.9 billion in 2023, with repatriations amounting to US$4.2 billion.
“Ghana saw an increase in the production and export of traditional minerals, except manganese. Gold production rose from 3.7 million ounces in 2022 to four million ounces in 2023, an 8.3% increase, driven by the expansion of small-scale mining.”
“However, large-scale gold production declined from 3.1 million ounces in 2022 to 2.9 million ounces in 2023. Small-scale production saw a significant increase of 70.6%, from 0.66 million ounces to 1.1 million ounces,” he said.