Accra: Ghana's gold production saw a substantial increase of 23.41% in 2025, rising from 4.82 million ounces to 5.94 million ounces. This surge was primarily driven by an unprecedented rise in small-scale mining output.
According to Ghana News Agency, small-scale gold production jumped by 63.82%, increasing from 1.90 million ounces in 2024 to 3.11 million ounces in 2025. This growth was supported by reforms, including the establishment of the Ghana Gold Board (GoldBod), which accounted for 52.4% of the national output. In contrast, large-scale gold production fell by 2.98%, from 2.92 million ounces in 2024 to 2.83 million ounces in 2025, reducing its share of national output from 60.6% to 47.6%.
Chamber of Mines member companies contributed 2.77 million ounces in 2025, a slight decline from 2.86 million ounces in 2024. The figures indicated a decrease in output across most operations, with the exception of Asanko Gold Mine and AngloGold Ashanti's Obuasi Mine, which received support from Newmont's Ahafo Mine, Cardinal Resources Limited's Namdini Mine, and Zijin's Akyem Mine. Other non-Chamber large-scale mines reported an increase in output from 0.055 million ounces in 2024 to 0.057 million ounces in 2025, marking a 2.0% growth, although their national output share declined from 1.2% to 1.0%.
Speaking at the 98th Ghana Chamber of Mines annual general meeting in Accra, Mr. Michael Edem Akafia, the immediate past President of the Chamber, highlighted that total mining revenue grew by 10.61%, from GHS21.90 billion to GHS24.22 billion. He noted that gold's contribution to Ghana's Gross Domestic Product (GDP) rose from 7.97% in 2024 to 9.98% in 2025, making it the country's largest economic sub-sector. Mining employment also improved, with Chamber member companies recording a 21.52% increase in direct workforce, rising from 11,372 in 2024 to 13,819 in 2025, supporting an estimated 207,285 indirect and induced jobs.
Mr. Akafia projected that in 2026, large-scale gold output would range between 3.2 million ounces and 3.4 million ounces, while small-scale output was expected to be between 2.9 million ounces and 3.5 million ounces. He emphasized that this outlook would depend on policy certainty, regulatory reforms, lease renewals, improved governance of small-scale mining, and continued investment in the minerals value chain.
Concluding his two-year tenure, Mr. Akafia urged the incoming Chamber leadership under new President Fred Attakumah to advocate for a comprehensive review of the mining fiscal regime. He cautioned that the revised royalty structure could increase Ghana's effective tax burden on mining to between 54% and 58%, ranking it among the highest globally, with significant implications for future investment and exploration.
Mr. Emmanuel Armah-Kofi Buah, the Lands and Natural Resources Minister, described the mining sector as the heartbeat of Ghana's economy and a primary driver of foreign exchange earnings. He praised the Chamber's contribution to national development and pledged the government's commitment to maintaining an attractive and competitive investment climate. The Minister also emphasized ongoing reforms, including the review of the Minerals and Mining Act 703 and the National Mining Policy, aimed at enhancing regulatory efficiency, transparency, and environmental protection. He assured that the government would ensure Ghanaians held significant positions in the mining economy and warned that any deviation from this agenda would be addressed firmly.