Ghana is capitalizing on its gold exports to drive economic growth, with revenues increasing to $11.6 billion in 2024 – a 52.6% increase from the $7.6 billion recorded in 2023. Gold exports accounted for 57% of the country’s total export revenue, solidifying the industry’s role as a key contributor to GDP expansion. Notably, small-scale miners contributed $5 billion to the sector’s export revenue.
As Ghana continues to enhance gold production and exports, the upcoming Mining in Motion conference, taking place from 2 – 4 June, will connect global investors with opportunities in Ghana’s gold value chain. The event will facilitate deal signings and strengthen trade relations with Ghana’s leading gold export markets.
While Ghana has maintained its position as Africa’s largest gold producer, it has also emerged as a key supplier to international markets. Asia ranks as the primary importer of Ghanaian gold, followed by Europe and Africa. In 2024, gold accounted for 65.4% of Ghana’s total exports to Asia, 60.2% of exports to Europe and 49.4% of exports across Africa. More than half of Ghanaian gold exports to each continent were concentrated in a single country; 53.1% of exports to Asia went to the United Arab Emirates (UAE), 60.2% of exports to Europe were directed to Switzerland and 60.5% of African exports were received by South Africa.
Asia strengthened its gold trading with Ghana, with countries such as China and India ranking amongst top export markets for Ghana. In Europe, the Netherlands, Spain, Italy, Germany, the United Kingdom, Belgium, France, Bulgaria, Portugal, Poland, Gibraltar and Estonia accounted for a significant share of Ghana’s gold exports. In Africa, Burkina Faso, the Ivory Coast, Togo and Mali rank as the top importers of Ghanaian gold.
Beyond these regions, Canada accounted for 58.6% of Ghana’s gold exports to North America, while Brazil received 94.1% of the country’s gold exports to Latin America.
Looking ahead, Ghana’s expanding gold production is expected to further strengthen trade with its top export markets, as these nations continue to invest in the country’s mining sector. The UAE’s Emiral Resources is the largest shareholder in Asante Gold Corporation, which is executing a $522 million expansion strategy, including the development of the Bibiani project. Meanwhile, India’s Rosy Royal Minerals holds an 80% stake in the Royal Ghana Gold Refinery, the country’s first gold refinery, positioning India as a key player in Ghana’s gold value chain.
Amid these developments, Mining in Motion will feature high-level discussions, networking sessions, and project showcases, reinforcing Ghana’s role as a key gold supplier to global markets.
Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MininginMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.
Africa Fact: Skeletons of pre-humans have been found in Africa that date back between 4 and 5 million years. The oldest known ancestral type of humanity is thought to have been the australopithecus ramidus, who lived at least 4.4 million years ago.
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