President of the Ghana Chamber of Mines has revealed that Ghana has regained its status as the largest gold producer on the African continent, surpassing South Africa.
After a decline in the country’s output, a 32% surge in gold production was recorded in 2022, marking a significant rebound.
Ghana lost its position as the largest gold producer on the continent to South Africa in 2021 after a sharp drop in output.
However, in 2022, Ghana’s gold output soared to 3.7 million ounces from 2.8 million ounces in 2021.
Both the large and small scale production sectors contributed to this feat.
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President of the Ghana Chamber of Mines, Joshua Mortoti, during the Annual General Meeting of the Chamber highlighted the achievement.
“The large-scale gold sub-sector achieved its highest output in the country’s history in 2022,” he said.
He further explained that a combination of heightened production and the expansion of existing mines contributed to a 13% rise in the large-scale sector’s contribution to the national gold output, reaching 3.1 million ounces last year compared to 2.7 million ounces in 2021.
Additionally, Mortoti revealed that member companies of the mines chamber had successfully sold over 77,620 ounces of gold through the Domestic Gold Purchase Programme. This initiative, launched by the Bank of Ghana, aims to bolster the nation’s gold reserves.
