Ghana’s mining sector, led by artisanal and small-scale gold mining (ASGM), is crucial for its economy, generating over $5 billion in export revenue in 2024. Government initiatives with industry leaders aim to enhance sustainability and community investment. Gold production is expected to rise by 3% by 2025, contributing to GDP growth. The imminent Mining in Motion Summit will foster collaboration between large and small-scale mining entities, emphasizing responsible practices.
Ghana’s mining sector, with a significant emphasis on artisanal and small-scale gold mining (ASGM), is pivotal to the nation’s economy. In 2024, ASGM yielded over $5 billion in export revenue, constituting 35% of Ghana’s gold output. This sector provides over 1 million direct jobs and indirectly affects an additional 4 million people, underscoring its importance as a major employment driver.
To optimize its mining potential, Ghanaian industry leaders along with sustainability experts from organizations such as the World Bank, World Gold Council, United Nations, African Union, and ECOWAS will convene to explore strategies for enhancing responsible mining practices, improving community engagement, and creating high-yield investments that serve both local and global economies.
The government’s dedication to sustainable mining is embodied in the newly established Gold Board, which focuses on maximizing revenues from ASGM while assuring responsible resource management and value addition. According to Deloitte, Ghana’s gold production is projected to grow by 3% in 2025, further cementing its status as a top gold exporter. The International Monetary Fund (IMF) anticipates that the mining sector will significantly contribute to a 1.5% GDP growth for Ghana in 2025.
Large-scale mining projects are also expanding, signaling the sector’s increasing momentum. Significant developments poised to commence in 2025 and 2026, supported by government partnerships with global exploration and production companies, are vital for maintaining Ghana’s competitive advantage in the international mining arena.
The Mining in Motion Summit will serve as a collaborative platform, promoting synergies between large mining firms and ASGM operators. This collaboration is crucial for cultivating a responsible and inclusive mining industry that benefits local communities while upholding global competitiveness.
H.E. John Dramani Mahama, President of Ghana, will articulate the nation’s socioeconomic vision for the mining industry, emphasizing sustainability as a cornerstone for long-term success. Furthermore, Otumfuo Nana Osei Tutu II, King of the Ashanti Kingdom, will address the significance of traditional leadership in influencing Ghana’s ASGM sector.
Ghana’s mining industry, particularly artisanal and small-scale gold mining, remains a cornerstone of its economy, generating substantial revenue and employment. As the sector looks to expand, collaboration among industry leaders and sustainability experts is vital for responsible mining practices. The government’s initiatives, coupled with large-scale projects and community engagement, position Ghana for continued growth and sustainability in the global mining market.
Original Source: environmentenergyleader.com
