Ghana Drives Small-Scale Gold Mining Growth

Ghana is strengthening its collaboration with international partners to enhance its small-scale gold mining (ASGM) sector and the broader gold value chain for socioeconomic development.

The Ashanti Green Initiative, led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom, is spearheading the inaugural Mining in Motion Summit in partnership with the World Bank and the World Gold Council. Scheduled for June 2-4, 2025, in Accra, the summit brings together stakeholders from Ghana’s ASGM sector, major mining players, and global investors to discuss best practices for further empowering the ASGM industry.

In 2024 alone, ASGM contributed $5 billion in export revenue and employed over one million people, underscoring its significance in Ghana’s mining landscape and economy.

Global Partnerships and ASGM Growth

Ghana is also implementing the Ghana Landscape Restoration and Small-Scale Mining Project, in partnership with the World Bank, to formalize the ASGM sector through the empowerment of District Mining Committees. Given the sector’s potential for job creation, the project plays a crucial role in advancing Ghana’s employment and economic growth agenda.

Additionally, Ghana is leveraging expertise and financing from global partners to enhance local value addition. The country’s Central Bank and India’s Rosy Royal Minerals have been operating the Royal Ghana Gold Refinery since its launch in August 2024. The facility presents a transformative opportunity for the ASGM industry, enabling greater contributions to GDP growth through value-added gold products. In November 2024, the Minerals Income Investment Fund of Ghana partnered with South Africa’s Mintek to boost the technical expertise of local miners.

Global Cooperation on Industrial Mining 

Ghana’s industrial mining sector is also witnessing significant international cooperation, with new projects set to expand production. Cardinal Resources is set to boost Ghana’s gold output by 358,000 ounces with the launch of the Namdini Mine in mid-2025, while Newmont’s Ahafo North Project will add another 325,000 ounces in the second half of the year.

Meanwhile, Canadian mining firm Asante Gold is preparing to select a contractor for its Bibiani Mine Expansion Project in Q3 2025. The UAE, which accounted for 40% of Ghana’s gold exports in 2024, continues to play a significant role in the sector’s expansion. UAE-based Emiral Resources Limited, the majority shareholder in Asante Gold, is investing in new mines and the modernization of existing facilities in Ghana through Asante Gold’s $525 million expansion strategy.

Amid increasing global partnerships in Ghana’s mining sector, Mining in Motion 2025 seeks to expand these collaborations, providing a platform for deal signings and strategic partnerships to promote responsible and sustainable gold mining. The event will feature high-level panel discussions and exhibitions from key decision-makers, including Otumfuo Osei Tutu II, King of the Ashanti Kingdom; H.E. John Dramani Mahama, President of Ghana; and representatives from the United Nations, African Union and ECOWAS, highlighting lucrative investment opportunities in Ghana’s burgeoning gold mining sector.

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