Gov’t Commissions $1bn Newmont Ahafo North Mine to Boost Gold Output and Inclusive Growth
Ghana has marked a major milestone in its mining sector with the official inauguration of Newmont’s Ahafo North Mine — a US$1 billion investment described as a testament to partnership, progress, and national pride.
The ceremony, held on Thursday, October 30, 2025, at Afrisipakrom in the Ahafo Region, was attended by the Vice President, H.E. Prof. Naana Jane Opoku-Agyemang, representing President John Dramani Mahama; the Asantehene, Otumfuo Osei Tutu II; and the Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah.
Vice President Opoku-Agyemang lauded the project as a model of collaboration between government, the private sector, and mining communities. She noted that Ghana’s gold industry continues to be a key driver of economic growth, contributing GH₵17.7 billion to GDP in 2024, up from GH₵11.7 billion in 2023.
“Today, Ghana is not just another gold-producing country,” she declared. “We are number one in Africa and sixth in the world.”
She further disclosed that gold exports had reached US$8 billion by August 2025, underscoring the sector’s importance to the national economy.
Commending Newmont for its enduring partnership with Ghana, the Vice President highlighted the company’s support for local jobs, infrastructure, and enterprise development. She specifically cited the firm’s commitment to rehabilitate the 46-kilometre Sunyani–Ntotroso–Akyerensua road as an example of sustainable corporate partnership.
“This is the kind of partnership we must champion — one built on shared vision and mutual respect,” she remarked.
Prof. Opoku-Agyemang also expressed appreciation to the Asantehene, Otumfuo Osei Tutu II, for his leadership in facilitating peace and community cooperation during the mine’s development phase.
Looking ahead, she urged Ghana to move beyond gold extraction to value addition through domestic refining and processing. “We must shift from exporting raw materials to building industries that process and refine them. That is how we create high-value jobs and lasting prosperity,” she emphasised.
On his part, Lands and Natural Resources Minister Hon. Emmanuel Armah-Kofi Buah described the Ahafo North Mine as a “symbol of responsible stewardship” that reflects Ghana’s values of inclusivity, environmental care, and shared prosperity.
He noted that the mine was constructed with significant Ghanaian technical input and is expected to create thousands of jobs while expanding opportunities for local suppliers and contractors.
“We are open for business — but only to partnerships that respect our people, our environment, and our resources,” Hon. Buah stated.
He reaffirmed government’s commitment to enforcing Local Content and Contract Mining regulations to ensure that indigenous Ghanaian companies benefit from mining operations.
The Minister also announced that government is finalising discussions with Newmont on a new initiative under the Responsible Cooperative Mining and Skills Development Programme (rCOMSDEP) — a scheme aimed at promoting coexistence between large-scale and small-scale mining.
“This is a bold step towards inclusive growth, where small-scale and large-scale miners can coexist responsibly,” he explained. Under the programme, Newmont will release a portion of its concession for regulated small-scale mining within host communities to curb illegal mining while creating sustainable livelihoods.
Hon. Buah further stressed that the ultimate success of the mine should be measured not by its gold output but by its social impact.
“The true success of this mine will not be in the gold it produces, but in the lives it transforms,” he said, adding that mineral resource extraction must always serve a higher national purpose — translating into infrastructure and broad-based development rather than private gain.
The Ahafo North Mine, following Newmont’s Ahafo South and Subika underground projects, is expected to significantly boost Ghana’s gold output and reinforce the country’s position as Africa’s leading producer.
