Ghana’s mining sector, especially artisanal and small-scale gold mining, significantly contributes to the economy, generating over $5 billion in export revenue and supporting millions of jobs. Collaborative efforts with global organizations aim to enhance sustainable and responsible practices in the industry. The government’s establishment of the Gold Board reflects a commitment to maximizing benefits from mining while contributing to GDP growth.
Ghana’s mining sector is experiencing significant expansion, particularly in artisanal and small-scale gold mining (ASGM). In 2024, ASGM is projected to generate over $5 billion in export revenue, which represents 35% of the nation’s total gold production. This sector provides over 1 million direct jobs and affects an additional 4 million individuals, strengthening its importance as a vital employment source.
In a bid to enhance responsible mining practices and community engagement, industry leaders and sustainability experts—including representatives from the World Bank, World Gold Council, United Nations, African Union, and ECOWAS—will convene to explore strategies for maximizing Ghana’s mining potential. This collaborative effort aims to generate high-return investments that will benefit both local and global economies.
The newly instituted Gold Board exemplifies the government’s commitment to sustainable mining, targeting the maximization of revenue from ASGM alongside responsible resource management and value addition. According to Deloitte, a 3% increase in gold production is anticipated for Ghana in 2025, further reinforcing its status as a leading gold exporter.
The mining sector is poised to play a pivotal role in contributing to Ghana’s projected 1.5% GDP growth in 2025, as outlined by the International Monetary Fund (IMF). Additionally, the establishment of significant large-scale mining projects, scheduled for launch in 2025 and 2026, underscores the sector’s accelerating development and the importance of government partnerships with global exploration and production firms.
The forthcoming Mining in Motion Summit will serve as a collaborative platform focused on creating synergies between large-scale mining enterprises and ASGM operators. This cooperation is crucial to establishing a responsible and inclusive mining industry that benefits local communities while preserving competitiveness in the global market.
H.E. John Dramani Mahama, President of Ghana, will articulate the nation’s socioeconomic vision for the mining sector, with an emphasis on sustainability as a cornerstone for future success. Furthermore, Otumfuo Nana Osei Tutu II, King of the Ashanti Kingdom, is expected to discuss the significance of traditional leadership in shaping the trajectory of Ghana’s ASGM sector.
The expansion of Ghana’s gold mining sector, particularly through ASGM, is projected to yield significant economic benefits, generating substantial revenue and employing millions. Strategic partnerships and sustainability initiatives highlighted in upcoming summits are essential for fostering responsible mining practices. Ghana’s commitment to improving its mining framework and enhancing community engagement is paramount for maintaining its competitiveness in the international arena.
Original Source: environmentenergyleader.com
