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Gold alone accounted 54% of the total exports basket   Gold exports jumped to a record gold in the first half of 2024 in Ghana. According to the Chief Executive Officer of the Minerals Commission, Martin Ayisi out of the total exports of US$9.2 billion for the first-half of 2024, gold alone accounted 54% of the total exports which amounted to US$ 5 billion.   This, he said, was as result of the surge in gold prices especially in the second quarter of 2024 and increase in production from both small- and large-scale operations. The gold price averaged a record $2 338 an ounce in the second quarter, 18% higher year-on-year and 13% higher quarter-on-quarter.   The average price of gold for the month of July is about US$2396 an ounce. Gold reached a new record of US$2482 an ounce on 17 July 2024. Ayisi has predicted that if the price of gold stays around the average for the month of July or the second quarter, then the full-year outlook for gold hit US$10 billion o...

The Africa’s largest gold producer   Asante Gold Corporation says, “Ghana is the Africa’s largest gold producer with the production of +4mn oz of gold per year!” Gold has been continuously mined in Ghana for centuries since it was part of the old Mali Empire in the 14th century, and in more recent times when it was known as the Gold Coast. During 120 years of near continuous production, Ghana’s largest underground mine, AngloGold Ashanti’s Obuasi mine, has recorded production exceeding 33M oz of Au.  In the last 20 years, major and junior companies including Newmont, Kinross, Goldfields, Golden Star, Galiano Gold and Perseus, have also committed significant resources to operations in the country. Ghana is Africa’s largest gold producer, with output of circa 4.0 million troy ounces per year, and is the 7th largest gold producer in the World.   Ghana is a mining friendly country and in 2015 ranked 6th in Africa on the World Bank’s Ease of Doing Business barometer. Other f...