The continent, renowned for its abundant mineral resources, is home to several nations that play a pivotal role in the global gold market. This article delves into the gold production statistics, major mining operations, and political stability of Africa’s top five gold-producing countries.
Ghana regains top spot
Ghana has reclaimed its status as Africa’s foremost gold producer, with a projected 32% surge in gold production expected in 2022. Throughout the year, Ghana exported 3.78 million ounces of gold, valued at 6.61 billion USD, as reported by the Central Bank of Ghana.
This remarkable growth can be attributed to significant contributions from the commissioning of the Bibiani mine, alongside heightened production levels at the Edikan, Chirano, and Obuasi mines. As a result, Ghana has not only ascended to the pinnacle of the African continent but has also secured the position of the 10th largest gold producer globally. This performance is consistent with economic diversification in West Africa via the mining industry.
South Africa : Major player in the industry
South Africa, once the global leader in gold production, continues to wield significant influence in the industry. Leading companies such as Harmony Gold Mining, AngloGold Ashanti, Gold Fields, Sibanye Stillwater, and Northam Platinum are pivotal players in South Africa’s gold sector.
Despite its historical prominence, South Africa has slipped to eighth place in global gold production rankings, according to Statistica’s estimations of approximately 84 tons of gold production for 2022. With a legacy spanning 130 years, South Africa’s gold industry has faced a decline for over two decades.
Nevertheless, there has been a 2.2 % year-on-year increase in South Africa’s gold production since October 2023, buoyed by notable mines like Mponeng and South Deep. In the first quarter of 2023 alone, South Africa reported a 13 % uptick in production, with Gold Fields’ managed production rising by 12 %. Despite its declining trajectory, South Africa maintains its position as the world’s eighth-largest gold producer in 2022, with production seeing a 3 % uptick from 2021.
Sudan : Significant growth despite challenges
Sudan continues to be a significant gold producer in Africa, despite experiencing fluctuations in production in recent years. In 2022, Sudan’s gold output reached 41.8 tons.
Despite facing challenges such as disruptions in artisanal and small-scale mining activities, Sudan has emerged as Africa’s third-largest gold producer over the past decade. Official figures indicate record production of 34.5 tons last year, signaling potential stability in 2023 despite ongoing conflicts within the country.
Mali : Steady production amid uncertainty
Mali, a prominent gold producer in Africa, is poised to meet or surpass its projected industrial gold production of 67.7 tons in 2023.
While some predictions suggested a potential decline from the 100 tons of gold produced in 2022, Mali’s production is on course to meet or even surpass its 2023 forecast. This underscores the country’s resilience and capacity to sustain stable gold production amid fluctuating economic circumstances.
Burkina Faso : Dynamic sector growth
Burkina Faso’s gold sector has undergone dynamic growth in recent years, with the country expected to reach a gold production of 57.6 tons by 2022. The establishment of its inaugural gold refinery marks a significant milestone for Burkina Faso as it seeks to refine its primary mineral resources domestically, showcasing substantial progress in its mining infrastructure.
The construction of this refinery, alongside other major initiatives such as the expansion of the Bomboré gold mine, reflects Burkina Faso’s aspirations to reinforce its standing in the gold industry. These endeavors underscore the country’s commitment to enhancing its position and capabilities within the sector.
