Nana Addo's policies helped Ghana regain top spot in gold production — Jinapor

According to the chamber, the country's gold production reached 3.7 million ounces.

The President of the chamber, Joshua Mortoti said Ghana has seen concurrent growth in the output of both large and small-scale sectors in 2022.

He added that the large-scale gold sub-sector recorded its highest output in the country's history.

The Minister of Lands and Natural Resources, Samuel Abu Jinapor speaking on the development said the policies of President Nana Addo Dankwa Akufo-Addo was the reason why Ghana regained the top spot in gold production on the continent.

Gold Pulse Ghana

In a statement, he said gold production by large-scale mining companies increased from 2.72 million ounces in 2021 to 3.08 million ounces in 2022, whilst gold exports from the small-scale sector rose from 98,001 ounces to 655,656 ounces over the same period. Overall, the country’s gold output increased from 2.82 million ounces in 2021 to 3.74 million ounces in 2022.

He stated that following the active intervention of the President of the Republic, H.E. Nana Addo Dankwa Akufo-Addo, the AngloGold Ashanti Obuasi Mine, which was put under care and maintenance in 2016, was revived in 2019.

The Bibiani Mine, which had been dormant for seven (7) years, he said was also revived in October 2022. 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%), have contributed significantly to Ghana’s new position on the continent.

He indicated that in 2022, the AngloGold Obuasi Mine increased its gold production by one hundred and thirty-two percent (132%) from the previous year, whilst the Bibiani Mine, which had not produced gold in the last seven (7) years, contributed over fifty-two thousand ounces (52,000oz) to our gold output.