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Gold has been central to the country's economy for decades. In 2023, Ghana produced around 4.2 million ounces of gold, contributing to approximately 4% of the world’s total output. The main gold-producing regions are Ashanti, Western, and Eastern regions, with major players including Newmont, Gold Fields, AngloGold Ashanti, and Kinross Gold ...
Gold mining has been an important part of the economies of Ghana and Mali for centuries. In Ghana, over 90 percent of output originates from underground mines in the Ashanti region of the country. The privatized Ashanti Goldfields Corporation , formed in 1993 with investment from Lonrho and now owned by AngloGold Ashanti , controls most ...
Galamsey in Ghana. Galamsey refers to illegal small-scale gold mining in Ghana. [1] [2] The term is derived from the English phrase "gather them and sell". [3]Historically, galamsey referred to traditional small-scale mining practices in Ghana, where local communities would gather and search for gold in rivers and streams.
[1] [2] [3] The first documented large-scale mining operation in Ghana was at Obuasi, where gold was discovered in 1897. By 1900, Ghana, then known as the Gold Coast, had become a major supplier of gold in the British Empire. [4] [5] [6] Ghana is renowned for its gold resources and is the largest producer of gold in Africa as of 2019.
[14] 2007 saw a 76% increase in gold production on a rising gold price; acquisitions; and higher probable reserve estimates for its key mines. [ 15 ] [ 16 ] In 2009 it failed in its attempt to acquire Moto Goldmines whose key asset was a 70% stake in one of Africa's largest undeveloped gold deposits.
Ghana, the world's second biggest cocoa producer, became an oil producer in 2010. Output is currently around 132,000 bpd of crude oil and about 325 million standard cubic feet per day of natural gas.
Newmont applied for permits from the Environmental Protection Agency in Ghana in July 2002. [3] Development began in 2005. [5] The mine is an open pit 2.65 kilometre long and 900 meters wide with a depth of 465 m. [3] Estimated reserves are 7.7 million ounces of gold. [5] Newmont announced commercial production beginning in 2013. [6]
The Government of Ghana retains 10% ownership of the mine and its production is subject to a gold stream contract owned by Royal Gold. [20] Golden Star Resources formerly operated the Bogoso-Prestea gold mine which is located in between the towns of Bogoso and Prestea in the Western Region of Ghana. The Bogoso mine was acquired by Golden Star ...