According to the Ghana Chamber of Mines, Ghana has maintained its status as Africa's leading gold producer and the 11th largest producer worldwide, producing four million ounces in 2023. Gold production is anticipated to range between 4.3 million and 4.5 million ounces, driven by increased output from both large and small-scale producers. Large-scale gold mining firms are expected to contribute 3.4 million ounces. New projects, including Newmont's Ahafo North and Cardinal Resource's Namdini Gold Mine, will play a significant role in this growth.
Michael Akafia, the President of the Ghana Chamber of Mines, made a significant announcement during the Chamber's AGM in Accra, providing a crucial update on the mining sector's future. This update is designed to keep stakeholders informed and involved in the developments of Ghana's mineral industry.
Akafia highlighted the mining sector's promising outlook for Ghana's mineral industry in 2024.
According to the Chamber of Mines, manganese production is forecasted to reach 5 million tonnes, while bauxite production is expected to be between 1.2 million and 1.5 million tonnes. Diamond exports are projected to increase, with estimates ranging from 220,000 to 250,000 carats.
Japanese aluminium buyers recently agreed to pay premium above $170/t for Q3 shipments
