Ghana has bounced back to take its position as the largest gold producer on the continent, as it recorded a staggering 32% increment in gold production in 2022.
Gold output rose to 3.7 million ounces in 2022 from 2.8 million ounces in 2021, driven by growth in the production of both large and small-scale sectors.
The increment has enabled it to win back the top spot from South Africa as the largest gold producer on the continent, the president of the mines chamber has said.
Ghana lost its position to South Africa in 2021 after a drastic fall in output.
“The large-scale gold sub-sector recorded its highest output in the country’s history in 2022. It was a combination of output and the expansion of production at existing mines that drove the large-scale sector’s contribution to national gold output up by 13% to 3.1 million ounces last year from 2.7 million ounces in 2021,” Joshua Mortoti, the President of the Ghana Chamber of Mines told members at the annual general meeting on Friday, June 9.
Mr. Mortoti said member companies of the mines chamber had sold over 77,620 ounces of gold under the Domestic Gold Purchase Programme, a scheme launched by the Bank of Ghana to boost reserves.