• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana’s Gold Exports Projected to Reach $10 Billion by Year-End

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets, Mining
1 min read
0 0
0
81
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s Gold Exports Projected to Reach $10 Billion by Year-End

Ghana’s gold exports are projected to reach US$10 billion by the end of 2024, the Minerals Commission has announced.

Martin Ayisi, the CEO of the Minerals Commission, revealed that gold exports surged to record levels in the first half of 2024. Of the total exports amounting to US$9.2 billion in this period, gold alone constituted 54%, equating to US$5 billion.

This surge was driven by increased gold prices and higher production from both small- and large-scale operations.

In the second quarter of 2024, gold prices averaged a historic $2,338 per ounce, reflecting an 18% year-on-year and a 13% quarter-on-quarter increase. In July, the average gold price stood at approximately US$2,396 per ounce, peaking at US$2,482 on July 17, 2024.

Mr Ayisi anticipates that if gold prices maintain their current levels, the annual gold export value could exceed US$10 billion.

According to him, small-scale mining contributed US$1.7 billion to gold exports in the first half of the year, representing 36% of the total. He projected that small-scale mining exports could surpass US$3 billion by year-end, buoyed by record prices.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

Emphasizing the mining sector’s critical role in Ghana’s economy, Mr Ayisi highlighted the importance of value addition in maximizing economic benefits. He cited initiatives in lithium, bauxite, manganese, and local gold refining as examples.

Particularly, he mentioned the Ghana Manganese Company’s plan to construct a $450 million refinery, which will enhance manganese ore grades and create 350 jobs.

The Minerals Commission CEO also discussed new measures to promote local content and participation, ensuring that the US$2 billion spent annually by mining companies on local supplies and services benefits Ghanaians.

He mentioned government efforts to list mining companies on the Ghana Stock Exchange to raise capital and praised the Minerals Income Investment Fund (MIIF) for its role in securing equity stakes in mines, enhancing state and Ghanaian participation.

The Minerals Commission CEO called for improved environmental management in small-scale mining operations across 12 regions in Ghana. He emphasized the need to protect the environment while supporting the livelihoods of approximately three million people involved in the sector.

Tags: Ghana's Gold Exports Projected to Reach $10 Billion by Year-EndGoldMinerals Commissionsmall scale mining

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.