Ghana dethrones South Africa to become Africa’s top gold producer

Ghana has reclaimed its top position as Africa’s premier gold producer, surpassing South Africa, after large-scale mining companies in the West African country increased gold production from 2.2 million ounces in 2012 to 3.08 million ounces last year.
After a temporary setback in 2021 due to a sharp decline in output, Ghana has reclaimed its coveted position as the continent’s top gold producer with a 32% increase in output, driven by both small- and large-scale mining sectors. The West African nation’s success in the gold industry has been attributed to several factors, most notably the revival of mining companies, expansion of output, and government policies. According to the Minister of Lands and Natural Resources, Samuel Abu Jinapor, the gold production landscape in Ghana has undergone a significant transformation, including an astounding increase of gold production in the small-scale sector. As a result, Ghana’s overall gold output surged from 2.82 million ounces in 2021 to an impressive 3.74 million ounces in 2022. Jinapor attributed this remarkable feat to the government’s visionary policies and collaborative programs, enacted under the leadership of President Nana Addo Dankwa Akufo-Addo.
More than 21 nations in Africa, the third-largest producer of gold in the world, are involved in gold mining, including Nigeria, Tanzania, and Mali. To that end, countries across Africa are taking substantial strides to boost their gold reserves, positioning themselves advantageously amidst global economic uncertainty. Against the backdrop of persistent geopolitical tensions and concerns over inflation, the allure of gold as a safe-haven asset has intensified. On the flip side, the 32% increase in gold output in Ghana in the previous year has also taken its toll on the country’s natural environment. The illegal mining of the precious metal, known as galamsey, poses a significant threat to Ghana’s forests, rivers, and other bodies of water, raising substantial health issues and potential water scarcity. Ghana’s government aims to combat illegal mining activities while introducing policies aimed at the formalization of small-scale mining and implementing alternative livelihood programs to address poverty and unemployment challenges in the West African country.