According to the Ministry of Lands and Natural Resources, Ghana is once again Africa's top producer of gold.
In a statement released on Monday, June 12, 2023, the Ministry credited the policies and programs being carried out by the Akufo-Addo-led government, in close cooperation with the Ghana Chamber of Mines, with the extraordinary achievement.
The following was quoted from the statement: "Gold exports from the small-scale sector climbed from 98,001 ounces to 655,656 ounces over the same period, while gold production by large-scale mining enterprises jumped from 2.72 million ounces in 2021 to 3.08 million ounces in 2022. From 2.82 million ounces in 2021 to 3.74 million ounces in 2022, the nation produced more gold overall.
It should be recalled that the AngloGold Ashanti Obuasi Mine, which was placed under care and maintenance in 2016, was reactivated in 2019 as a result of the active intervention of the President of the Republic, H.E. Nana Addo Dankwa Akufo-Addo. In October 2022, the Bibiani Mine, which had lain inactive for seven (7) years, was also restarted.
"Ghana's new position on the continent has been greatly influenced by the revival of these two mines, the expansion of output by some existing mines, and the reduction of the withholding tax rate on unprocessed gold by small-scale miners, which was introduced in 2015, from three percent (3%) to one and a half percent (1.5%).
In fact, AngloGold Obuasi Mine's gold output climbed by 132% from the previous year in 2022, while the Bibiani Mine, which had not produced gold in the previous 7 years, contributed more than 52,000 ounces (52,000oz) to the total amount of gold produced.
The statement said, "Gold exports from the small-scale industry also surged by over 570 percent (570%) in 2022 compared to 2021.
The Ghanaian economy is still supported by the export of gold, which brought in about $6.6 billion last year. The government is still dedicated to boosting the mining sector's economic impact locally through local engagement and content, as well as by adding value to the minerals that are produced. The ground-breaking Gold4Oil Policy will make sure that we make the most of our gold resources through a much more competitive trade, stabilize our currency, and provide our citizens with affordable oil.
The Ghana Chamber of Mines' assistance and involvement in attaining this milestone were greatly appreciated by the government. In order to achieve the greatest possible advantages from our mineral resources, notably through value addition, the government, through the Ministry of Lands and Natural Resources, will continue to engage with the Chamber and all other stakeholders.
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