Gold Output From Artisanal and Small-scale Mining Jumps to 1.9m Ounces in 2024
Ghana has retained its position as Africa’s largest gold producer, with output rising to 4.8 million ounces in 2024, driven largely by a surge in artisanal and small-scale mining.
Data from the Ghana Chamber of Mines show that small-scale production jumped from 1.1 million ounces in 2023 to 1.9 million ounces in 2024, offsetting stagnant output from large-scale mining firms, which held steady at about 2.9 million ounces.
Speaking in an interview, President of the Chamber of Mines, Michael Edem Akafia, described the performance as a positive signal for Ghana’s global mining profile. “Ghana produced about 4.8m ounces of gold in 2024, consolidating its lead over rivals such as South Africa and Sudan,” he said.
The expansion highlights the dynamism of Ghana’s informal mining sector but also exposes structural weaknesses. Industry executives caution that the heavy reliance on small-scale operators poses environmental and governance risks, while depriving the state of potential revenues.
Mr Akafia noted that behind the headline growth figures lay unresolved challenges. “If you unpack it and look behind those headlines, you find that there may be challenges and issues of concern for the industry,” he warned, stressing the need for consistent policy and regulatory maturity to maintain Ghana’s reputation as a “beacon for the mining industry.”
Government is preparing to overhaul mining legislation to tighten oversight, boost revenue collection and address the environmental footprint of artisanal mining. However, industry stakeholders fear that tougher regulations could undermine investment at a time when Ghana is seeking to consolidate its role as a global mining hub.
Analysts argue that Ghana’s leadership in African gold production gives it leverage in shaping global supply dynamics. Sustaining this position, they say, will depend on striking a balance between regulatory reforms, investor confidence, and the formalisation of the fast-expanding small-scale mining sector.
