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Business News of Saturday, 8 June 2024

    

Source: GNA

Ghana's gold production rises to 4 million ounces in 2023

This is the country’s highest output since the outbreak of the COVID-19 pandemic This is the country’s highest output since the outbreak of the COVID-19 pandemic

Ghana's gold production increased by 8.3% to 4 million ounces in 2023, up from 3.7 million ounces in 2022, according to the Ghana Chamber of Mines.

This rise was driven by a 70.6% increase in small-scale miners' output, which offset a 4.9% decline in large-scale production. This marks Ghana's highest gold output since the COVID-19 pandemic.

For 2024, gold output is projected to reach 4.3 to 4.5 million ounces, boosted by new projects like Newmont's Ahafo North and Cardinal Resource's Namdini Gold Mine.

Additionally, manganese production is expected to rise to 5 million tonnes, bauxite to 1.2-1.5 million tonnes, and diamond exports to 220,000-250,000 carats.

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