Ghana Regains First Position in Gold Production – Lands Minister
Ghana has regained her position as the number one gold producer in Africa after losing the position to South Africa in 2021 due to a drastic fall in output.
According to the Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, gold production by large-scale mining companies increased from 2.2 million ounces in 2012 to 3.08 million ounces in 2022.
Gold exports from the small-scale sector on the other hand, Mr Jinapor indicated rose from 98,001 ounces to 655,656 ounces over the same period.
Meanwhile, the country’s overall gold output increased from 2.82 million ounces in 2021 to 3.74 million ounces in 2022.
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This was contained in a press statement signed and issued by the Minister and copied the Ghanaian Times yesterday.
Mr Jinapor attributed the remarkable feat chalked by the country to the policies and programmes implemented by the government of President Nana Addo Dankwa Akufo-Addo in close collaboration with the Ghana Chamber of Mines.
The statement indicated that the revival of two mining companies, the AngloGold Ashanti Obuasi Mine and the Bibiani Mine following active intervention by President Akufo-Addo, expansion of output by some existing mines, and the reduction of the withholding tax rate on unprocessed gold by small-scale miners had contributed to the country’s new position on the continent.
The AngloGold Obuasi Mine, according to the statement increased its gold production by 132 per cent in 2022 from the previous year, while the Bibiani Mine which had not produced gold in the last seven years, contributed over 52000oz to the country’s gold output.
It further pointed out that gold production in the country was expected to increase exponentially in the next two years with the coming on-stream of three new large-scale mining operations, namely, Cardinal Resources Namdini in the Upper East Region, Azumah Resources in the Upper West Region, and Newmont Ahafo North in the Ahafo Region.
Government, the statement said remained committed to increasing the contribution of the mining industry to the local economy, as gold continued to be the bulwark of the country’s economy.
That, it sought to achieve through local content and participation as well as value addition to minerals mined.
The statement emphasised the leverage of the country’s gold resources through a much more competitive trade, and stabilised currency while delivering cheap oil under the Gold4Oil policy by the government.
“Government is grateful to the Ghana Chamber of Mines for their collaboration and partnership in achieving this feat.
“Government through the Ministry of Lands and Natural Resources, will continue to work with the Chamber, and all stakeholders, in the spirit of transparency, integrity, and utmost good faith, to ensure optimal benefits from our mineral resources, particularly, through value addition,” the statement added.
