Ghana’s artisanal and small-scale gold mining sector generated over $5 billion in 2024, comprising 35% of the nation’s gold production and supporting more than 1 million jobs. Industry leaders will convene to discuss sustainable mining practices, driven by government initiatives like the newly formed Gold Board. Ghana’s gold production is expected to rise by 3% in 2025, contributing to GDP growth, while major large-scale mining projects are anticipated to enhance competitiveness internationally.
Ghana’s mining sector, particularly the artisanal and small-scale gold mining (ASGM), is a cornerstone of its economy. In 2024, ASGM generated over $5 billion in export revenue, representing 35% of the nation’s total gold production. This sector provides over 1 million direct jobs and influences an additional 4 million individuals, highlighting its importance as a key employment engine.
To fully embrace its mining potential, Ghana seeks insights from industry leaders and sustainability experts, including representatives from the World Bank and the United Nations. Their discussions will focus on promoting responsible mining practices, enhancing community engagement, and developing investments that yield benefits for both local communities and the global economy.
The Ghanaian government is demonstrating its commitment to sustainable mining through the establishment of the Gold Board, which aims to optimize revenue from ASGM while promoting responsible resource management and value addition.
Deloitte predicts Ghana’s gold output will rise by 3% in 2025, further entrenching its status as a prominent gold exporter. The International Monetary Fund (IMF) anticipates that the mining sector will significantly contribute to Ghana’s projected 1.5% GDP growth in 2025.
The advancement of large-scale mining projects is reflective of the sector’s burgeoning expansion. Major projects slated to commence in 2025 and 2026, supported by partnerships with global exploration and production firms, are essential for sustaining Ghana’s competitiveness in the international mining arena.
The forthcoming Mining in Motion Summit will serve as a collaborative platform aimed at fostering synergies between large-scale mining operations and ASGM practitioners. Such partnerships are vital for cultivating a responsible and inclusive mining industry that supports local communities while ensuring global competitiveness.
H.E. John Dramani Mahama, President of Ghana, is set to articulate the nation’s socioeconomic aspirations for the mining industry, underscoring sustainability as a pillar of long-term success. Furthermore, Otumfuo Nana Osei Tutu II, King of the Ashanti Kingdom, will emphasize the significance of traditional leadership in shaping Ghana’s ASGM sector.
In summary, Ghana’s gold sector is critical to its economic landscape, significantly contributing to export revenues and job creation. The government’s focus on sustainability, coupled with industry collaboration, is poised to enhance the responsible mining practices. Such initiatives, backed by notable projects and expert discussions, are vital for ensuring the sector’s growth and competitiveness on the global stage.
Original Source: environmentenergyleader.com
