Ghana is on course to record another exceptional year for artisanal and small scale gold production, with the country’s Gold Board indicating that output from the sector is likely to equal or exceed the record achieved in 2025. The projection reflects the continued impact of reforms aimed at formalising artisanal mining, strengthening foreign exchange earnings and reducing illicit gold smuggling, while reinforcing the sector’s growing contribution to Ghana’s national economy.
According to the Ghana Gold Board, commonly known as GoldBod, between 50 and 54 metric tonnes of gold had been purchased from artisanal and small scale miners during the first six months of 2026. Speaking in Accra, GoldBod Chief Executive Officer Samuel Gyamfi said the pace of purchases suggested that production from the sector was on track to match or surpass last year’s record output of 104 metric tonnes.
The milestone would further consolidate the position of artisanal and small scale mining as a major pillar of Ghana’s gold industry. In 2025, output from the sector exceeded production from large scale mining operations for the first time, reflecting the rapid expansion of formalised small scale mining following government interventions to improve oversight, encourage legal production and increase official gold exports.
Gold remains Ghana’s largest export commodity and one of the country’s most significant sources of foreign exchange. Increased official gold purchases have supported the country’s efforts to strengthen external reserves and improve macroeconomic stability following a period of severe economic and fiscal challenges. Ghana continues to implement economic reforms under an International Monetary Fund supported programme while seeking to rebuild investor confidence and stabilise public finances.
GoldBod reported that artisanal and small scale mining generated close to US$11 billion in foreign exchange earnings during 2025, compared with approximately US$9 billion from the large scale mining sector. The figures illustrate the increasing economic significance of smaller producers, many of whom operate across rural communities where mining remains an important source of employment and household income.
Although international gold prices have moderated in recent months after reaching historic highs earlier in the year, GoldBod said export earnings are still expected to exceed those recorded in 2025 because average bullion prices remain above last year’s levels. The agency noted that its original projections for 2026 had been based on an average gold price of approximately US$5,000 per ounce and weekly purchases of around 2.5 metric tonnes. While prices have eased below those assumptions, sustained production volumes continue to underpin expectations of another strong export performance.
Ghana’s experience reflects wider developments across Africa, where governments are placing increasing emphasis on formalising artisanal mining to improve transparency, increase public revenues and expand the economic benefits derived from mineral resources. Across the continent, policymakers continue to balance the sector’s contribution to employment and rural livelihoods with the need to strengthen environmental stewardship, improve occupational safety and reduce illegal mining activities.
As one of Africa’s leading gold producing nations, Ghana’s evolving mining framework continues to attract regional attention. The country’s efforts to integrate artisanal producers into formal supply chains are being closely observed by other resource rich African economies seeking to maximise the developmental value of their mineral wealth while strengthening domestic participation in global commodity markets.
