Largest Gold Producer in Ghana: Top Companies 2026

The largest producer of gold in Ghana is Newmont Corporation, with significant operations at the Ahafo mine and the newly ramped-up Ahafo North project, contributing over 600,000 ounces annually in recent years.

However, following the sale of its Akyem mine to Zijin Mining in April 2025, Gold Fields has emerged as a close competitor with combined output from Tarkwa and Damang exceeding 700,000 ounces in 2024.

Ghana ranks as Africa’s top gold producer and the sixth globally, with total output reaching approximately 5.1 million ounces in 2025, up from 4.8 million in 2024.

Gold mining drives nearly 90% of the country’s mineral exports and contributes significantly to GDP, making it a cornerstone of the economy.

Overview of Gold Production in Ghana

Ghana holds the title of Africa’s largest gold producer, surpassing South Africa in recent years, and ranks sixth worldwide with reserves estimated at over 1,000 tonnes.

In 2025, the country produced around 130 tonnes (4.18 million ounces), driven by both large-scale operations and a booming artisanal sector.

Gold accounts for about 43% of Ghana’s exports and contributes 6-8% to GDP, supporting foreign exchange reserves and infrastructure development.

The history of gold mining in Ghana dates back to the 15th century, when the region was known as the Gold Coast. Modern industrial mining began in the late 19th century, with major discoveries in the Ashanti and Western regions.

Today, the sector employs over 1 million people directly and indirectly, blending multinational expertise with local resources. Recent reforms, including the establishment of GoldBod in 2025 to formalize small-scale exports, have boosted revenue to $10 billion from artisanal mining alone.

Who Is the Largest Gold Producer in Ghana?

Newmont Corporation (Largest Gold Producer in Ghana)

Newmont Corporation, a U.S.-based mining giant, remains Ghana’s top gold producer despite divesting its Akyem mine to Zijin Mining Group for $1 billion in April 2025.

Founded in 1921, Newmont is the world’s largest gold miner by production, with a global output of over 5 million ounces annually. In Ghana, it focuses on the Ahafo region in the Brong-Ahafo area.

Newmont’s major mines include Ahafo South, operational since 2006, and Ahafo North, which achieved commercial production in October 2025. Ahafo South produced around 643,000 ounces in recent reports, while Ahafo North is expected to add 50,000 ounces in 2025, ramping to 275,000-325,000 ounces annually.

Combined, Newmont’s Ghana operations yielded over 1 million ounces before the Akyem sale, with post-sale estimates at 650,000-700,000 ounces.

The company has invested billions in Ghana, creating over 5,000 jobs and contributing to community development through education and health programs. Sustainability efforts include water management and biodiversity conservation, aligning with global ESG standards.

For investors, Newmont’s NYSE listing (NEM) offers exposure to Ghana’s gold, with dividends and growth potential tied to rising gold prices.

Top Gold Producing Companies in Ghana

To provide a clear comparison, here’s a table of Ghana’s leading gold producers based on recent data:

Company	Major Mines	Estimated Output (2025, ounces)	Ownership
Newmont Corporation	Ahafo South, Ahafo North (Akyem sold in 2025)	650,000-700,000	USA
Gold Fields	Tarkwa, Damang	650,000-700,000	South Africa
AngloGold Ashanti	Obuasi	250,000-300,000	South Africa
Zijin Mining	Akyem (acquired 2025)	300,000-400,000	China
Perseus Mining	Edikan	180,000-200,000	Australia
Galiano Gold	Asanko	120,000-130,000	Canada

This structured data highlights Newmont and Gold Fields as frontrunners, with outputs reflecting 2025 estimates adjusted for ownership changes.

Largest Gold Mines in Ghana

Ghana’s gold output comes from several world-class mines, primarily in the Ashanti Gold Belt. Here’s a breakdown:

Ahafo Mine (Newmont): Located in the Ahafo region, this open-pit mine has reserves of 17 million ounces and produced 643,000 ounces annually. It features advanced processing facilities and is set for expansion with Ahafo North.
Tarkwa Mine (Gold Fields): Africa’s largest open-pit gold mine, processing 14 million tons of ore yearly for 551,000 ounces. In the Western Region, it’s known for its efficiency and planned merger with nearby operations.
Akyem Mine (Zijin Mining): Acquired from Newmont in 2025, this Eastern Region mine produces 422,000 ounces annually. It’s an open-pit operation with potential underground expansion to extend life beyond 2030.
Obuasi Mine (AngloGold Ashanti): One of the world’s oldest mines, redeveloped in recent years, yielding 221,000 ounces in 2024 with ramp-up to 300,000+ in 2025. Located in the Ashanti Region.
Damang Mine (Gold Fields): In the Western Region, producing 153,000 ounces from open pits, with licenses expiring in 2025 but extensions planned.

These ghana gold mines collectively drive over 60% of Ghana’s large-scale production.

How Gold Production Is Measured in Ghana

Ghana Gold production is typically measured in troy ounces (1 ounce = 31.1 grams) or metric tons (1 ton = 32,150 ounces). Annual output focuses on fine gold after refining, while lifetime figures account for total reserves mined.

Large-scale mining uses industrial methods like open-pit and underground extraction, contributing 60-70% of output. Small-scale operations rely on manual tools. The Ghana Chamber of Mines and Minerals Commission track data, ensuring accuracy for investors.

Role of Small-Scale & Artisanal Mining

Artisanal and small-scale mining (ASM) accounts for 40% of Ghana’s gold output in 2025, up from 30% in prior years, generating $10 billion in exports. Legal ASM provides livelihoods for millions, but illegal “galamsey” causes environmental damage like water pollution.

Government efforts via GoldBod have formalized exports, surpassing 100 tons in 2025. For investors, ASM offers high-yield opportunities through licensed cooperatives, though risks include regulation changes.

Ghana’s Gold Production Trends (Recent Years)

Ghana’s production grew 6.25% to 5.1 million ounces in 2025 from 4.8 million in 2024, fueled by ASM boom and new projects like Ahafo North. Trends include technology adoption (e.g., AI in exploration) and sustainability focus, with output projected to stabilize at 5-5.5 million ounces through 2030 amid global demand.

Why Ghana Attracts Major Gold Producers

Ghana’s appeal lies in its rich geology (Ashanti Belt holds vast deposits), stable mining laws under the Minerals and Mining Act, and infrastructure like ports for exports. A skilled workforce and political stability draw firms like Newmont and Zijin, with FDI exceeding $2 billion annually.

Economic Impact of Gold Mining in Ghana

Gold mining contributes 6-8% to GDP, creates 1+ million jobs, and generates 43% of export earnings ($10-12 billion in 2025). It attracts FDI, boosts local economies through royalties (5% of revenue), and supports infrastructure. However, challenges like environmental costs require balanced growth.

Investment & Gold Buying Angle

Ghana’s gold output influences global supply, making it attractive for investors amid prices over $2,500/ounce. Buyers can purchase through licensed exporters or GoldBod, with 22+ karat purity certified. For investors, options include mining stocks (e.g., Newmont, Gold Fields), ETFs, or direct bullion. Ghana gold offers ethical sourcing and hedge against inflation, with export procedures simplified for foreigners.

FAQs about Gold in ghana

Who owns the largest gold mine in Ghana?

Gold Fields owns Tarkwa, Africa’s largest open-pit gold mine by size.

Is Ghana the biggest gold producer in Africa?

Yes, Ghana overtook South Africa in 2019 and maintained the lead in 2025 with 130 tonnes.

How much gold does Ghana produce annually?

Approximately 4.5-5.1 million ounces (130-150 tonnes) in recent years.

Which region in Ghana has the most gold?

The Ashanti Region, home to mines like Obuasi and parts of Ahafo.

Can foreigners buy gold in Ghana?

Yes, through licensed dealers with export permits from the Minerals Commission.