Ghana Gold Intelligence
The numbers behind Ghana's gold sector — production, exports, prices, revenue and reserves — from the Bank of Ghana, GoldBod, the Ghana Statistical Service, the Chamber of Mines and international sources, with our latest analysis underneath.
Gold Market & Price Intelligence
What is moving the price, how Ghana's gold is priced, and what drives margins for buyers and exporters.
Gold price
LBMA gold price averages
The cedi
US dollar to Ghana cedi, Bank of Ghana interbank
| Date | GH₵ per US$ | Change |
|---|---|---|
| End-Dec 2025 | 10.45 | +40.7% in 2025 |
| End-Jun 2026 | — | −7.9% YTD |
| End-Jul 2026 | — | −10.4% YTD |
| 18 Sep 2026 | 11.55 | −9.5% YTD |
| 20 Oct 2026 | 11.60 | — |
Why it matters: GoldBod's price is the LBMA price converted into cedis, so a weaker cedi raises local gold prices even when the world price is flat.
Royalty calculator
Sliding-scale gold royalty for large-scale mines, set by the weekly average LBMA PM price
| Gold price (US$/oz) | Royalty |
|---|---|
| up to $1,900 | 5% |
| $1,900 – $2,000 | 6% |
| $2,000 – $2,500 | 7% |
| $2,500 – $3,000 | 8% |
| $3,000 – $3,500 | 9% |
| $3,500 – $4,000 | 10% |
| $4,000 – $4,500 | 11% |
| above $4,500 | 12% |
Small-scale gold: flat 2%. Growth & Sustainability Levy cut from 3% to 1%.
How Ghana prices gold
GoldBod pricing since 1 July 2026
| Basis | LBMA AM and PM gold prices, converted at the Bank of Ghana reference rate |
| Published | Two official prices a day; live prices discontinued |
| Rule | Buyers may not purchase at prices outside the approved GoldBod pricing framework |
Where Ghana's gold goes
What drives margins: from mine to market
Click each step to see what it means for a buyer or exporter
Global supply & demand
World Gold Council headline figures, tonnes
Data & Industry Statistics
Ghana gold numbers, updated as reliable data is published. Choose a year above, or click any bar.
Gold production by sector
Million ounces
View as table
| Year | Total (m oz) | Large-scale | Small-scale |
|---|---|---|---|
| 2021 | 2.8 | 2.7 | 0.1 |
| 2022 | 3.7 | 3.1 | 0.66 |
| 2023 | 4 | 2.9 | 1.1 |
| 2024 | 4.82 | 2.92 | 1.9 |
| 2025 | 5.94 | 2.83 | 3.11 |
Gold vs other exports
US$ billion, Bank of Ghana
View as table
| Year | Gold (US$m) | Total (US$m) | Gold share |
|---|---|---|---|
| 2021 | 5,083.1 | 14,727.5 | 34.5% |
| 2022 | 6,608.4 | 17,406.8 | 38.0% |
| 2023 | 7,600.8 | 16,703.0 | 45.5% |
| 2024 | 10,314.8 | 19,164.8 | 53.8% |
| 2025 | 20,975.3 | 31,248.0 | 67.1% |
| 2026 (Jan–Aug) | 14,863.2 | 22,440.1 | 66.2% |
Contribution to the economy
Latest available
| Gold share of GDP, 2025 | 9.98% |
| Mining & quarrying taxes, 2025 | GH₵23.11bn |
| Mineral royalties, 2025 (record) | GH₵5.43bn |
| Mineral royalties, Q1 2026 | GH₵2.01bn |
| All mineral export earnings, 2025 | US$21.36bn |
| Direct jobs, Chamber members, 2025 | 13,819 |
Bank of Ghana gold reserves
Tonnes · hover or tap for value
Refining capacity
Documented contracted throughput
| Refinery | Status |
|---|---|
| Gold Coast Refinery | GoldBod supplies up to 1 t/week; state holds 15% free carried interest; Rand Refinery technical partner; not yet LBMA-accredited |
| Royal Ghana Gold Refinery | GoldBod agreement for up to 1 t/week (25 May 2026); Bank of Ghana minority stake |
Major mines: operators and output
Latest published production · click a column to sort, a row for details · open the Ghana Gold Map
| Mine | Operator | Region | Output (oz) | Period |
|---|---|---|---|---|
| Ahafo South | Newmont | Ahafo | 664,000 | 2025 |
| Tarkwa | Gold Fields (90%) | Western | 474,500 | 2025 |
| Akyem | Zijin Mining | Eastern | 163,970 | Apr–Dec 2025 (since Zijin takeover) |
| Edikan | Perseus Mining | Central | 158,270 | FY to 30 Jun 2026 |
| Bibiani + Chirano | Asante Gold | Western North | 146,571 | 11 months to Dec 2025 (gold-equivalent) |
| Asanko | Galiano Gold | Ashanti | 121,191 | 2025 |
| Damang | Engineers & Planners (from Apr 2026) | Western | 97,500 | 2025 (under Gold Fields) |
| Ahafo North | Newmont | Ahafo | 70,000 | 2025 (first year) |
| Obuasi | AngloGold Ashanti | Ashanti | — | 2025: +20% vs 2024 |
| Iduapriem | AngloGold Ashanti | Western | — | 2025: −16% vs 2024 |
Latest Intelligence
News, markets, company and project updates from our desk.
NewsMinority Calls for GoldBod CEO’s Resignation Over Galamsey Remarks; GoldBod Says Video Was Taken Out of Context
Company NewsNorthern Ashanti Mines Challenges Konongo Lease Termination in Court
MarketsUAE and India Overtake Switzerland as Ghana’s Top Export Markets
MarketsBank of Ghana Makes Reserve Rebuilding a Priority After GoldBod Export Slowdown
MarketsSmall-Scale Gold Exports Reach US$11.6bn So Far in 2026, GoldBod Says
NewsGoldBod Moves Daily Gold Price Announcements One Hour Later Until March 2027
Data calendar
When the next official numbers are due. Click for what to watch. Dates marked "Expected" follow past release patterns.
Sources & method
Official Ghanaian sources first (Bank of Ghana, Ghana Statistical Service, GoldBod, Minerals Commission, Ministry of Finance, Ghana Chamber of Mines, MIIF), then company reports and international bodies (World Gold Council, LBMA, USGS). Where sources disagree we say so: 2025 production is 185 t per the Chamber of Mines but 150 t in USGS estimates, which undercount small-scale output; 2025 gold exports are US$20.98bn on the Bank of Ghana basis, while the Ghana Statistical Service reports gold at 63.1% of exports on its own basis. Figures are provisional until revised by the publisher. Not investment advice.
