Ghana’s gold production rose 8.3 per cent in 2023 to four million ounces, up from 3.7 million ounces in 2022, driven by a surge in small-scale mining, according to a report by the Ghana Chamber of Mines.
Small-scale gold production jumped 70.6 per cent to 1.1 million ounces in 2023, attributed to policies like the review of withholding tax on unprocessed gold and the Gold for Oil Programme.
In contrast, large-scale gold production fell 6 per cent to 2.9 million ounces in 2023, due to declines at mines including Gold Field’s Damang Mine and AngloGold Ashanti’s Obuasi Mine.
Mineral export receipts rose 15 per cent to $7.8 billion in 2023, with gold contributing $7.6 billion. Bauxite and diamond revenues also increased, while manganese export proceeds declined slightly.
