Ghana has regained its position as the largest gold producer in Africa, surpassing South Africa, after experiencing a significant increase in gold production last year.
According to Joshua Mortoti, the President of the Ghana Chamber of Mines, the nation recorded a remarkable 32% surge in gold output, reclaiming the top spot on the continent.
After a slump in production, Ghana had conceded its position to South Africa in 2021. However, in 2022, the country saw a substantial boost in gold production, with output reaching 3.7 million ounces compared to the previous year's 2.8 million ounces.
This notable increase was driven by growth in both the large and small-scale mining sectors.
During the annual general meeting of the Ghana Chamber of Mines, Joshua Mortoti highlighted that the large-scale gold sub-sector achieved its highest output in the country's history in 2022.
The contribution of the large-scale sector to the national gold output rose by 13% to 3.1 million ounces, marking a significant improvement from the 2.7 million ounces recorded in 2021. This growth was primarily attributed to increased production at existing mines and overall output expansion.
In addition to the surge in gold production, Mortoti mentioned that member companies of the mines chamber participated in the Domestic Gold Purchase Programme launched by the Bank of Ghana.
Through this initiative, the companies collectively sold over 77,620 ounces of gold, contributing to the country's efforts to bolster its gold reserves.
