Ghana’s gold mining sector, particularly ASGM, generated over $5 billion in 2024, employing millions and driving economic growth. Upcoming discussions among industry experts aim to promote responsible mining practices. Government initiatives, including the Gold Board, focus on optimizing ASGM revenue sustainably. The sector’s gold production is expected to rise by 3% by 2025, contributing significantly to GDP growth. Major mining projects are on the horizon, emphasizing collaboration between stakeholders.
Ghana’s mining sector, especially artisanal and small-scale gold mining (ASGM), is vital to its economy. In 2024, ASGM produced over $5 billion in export revenue, representing 35% of the nation’s total gold output. This sector provides more than 1 million direct jobs and affects an additional 4 million people, highlighting its significance in employment generation.
To leverage the mining potential, key stakeholders—including the World Bank and African Union—will convene to explore methods for enhancing responsible mining practices. Their agenda includes improving community engagement and promoting investments that benefit local and international economies.
The Ghanaian government shows its commitment to sustainable practices through the establishment of the Gold Board, which aims to optimize ASGM revenue while ensuring responsible resource management and value addition to the economy.
Deloitte forecasts a 3% increase in Ghana’s gold production by 2025, strengthening its position as a leading gold exporter. The mining sector’s contribution to Ghana’s GDP growth is estimated at 1.5%, according to the International Monetary Fund (IMF).
Notable new large-scale mining projects are scheduled to commence in 2025 and 2026, supported by government alliances with global exploration and production companies. These developments are crucial for maintaining Ghana’s competitive status in the global mining sector.
The Mining in Motion Summit will serve as a collaborative platform for large-scale mining companies and ASGM operators, promoting an inclusive industry that simultaneously advances community welfare and international competitiveness. H.E. John Dramani Mahama, President of Ghana, will present a vision for the mining sector centered on sustainability. Additionally, Otumfuo Nana Osei Tutu II will underscore the crucial role of traditional leadership in the ASGM landscape.
Ghana’s mining industry, led by the ASGM sector, is a significant economic pillar, contributing vital revenues and employment. The government’s focus on sustainable practices and new large-scale projects is expected to enhance this sector’s growth. Collaborative efforts at the Mining in Motion Summit will address key challenges and opportunities, ensuring the responsible development of Ghana’s abundant mineral resources while prioritizing community welfare and sustainability.
Original Source: environmentenergyleader.com
