Ghana’s gold production has hit a 16-year low.
In 2020, 4 million ounces of gold were shipped, compared to 4.5 in 2019.
The situation has been viewed as concerning, particularly given Ghana’s status as a net gold exporter.
The Ghana Chamber of Mines has issued a warning that gold output has decreased in the country. President of the Chamber, Eric Asubonteng, stated in their annual report that gold output fell 12.1 percent to 4.02 million ounces in 2020, compared to 4.57 million ounces in 2019, the largest reduction in 16 years.
“In comparison to the previous year, the success of Ghana’s mines industry was subdued in 2020,” he remarked in a speech at the 93rd annual general meeting, which was conducted virtually on the topic of “Positioning Ghana as a Mining Support Services Hub.”
Due to supply chain interruptions, gold production at Ghana’s large-scale mines declined 4.8 percent to 2.8 million ounces in 2020, while small-scale gold output decreased 26 percent to 1.18 million ounces.