Ghana is banking on small-scale gold mining to deliver a $12 billion annual windfall from next year, doubling its current output to tap into record-high global prices. With artisanal miners driving over a third of the country’s gold exports, which jumped 50% to $11.6 billion last year, the government has launched a new regulator to formalize trade and curb black-market smuggling. The regulator, Ghana Gold Board, is ramping up purchases from these small-scale miners, aiming to hit more than 3 tons per week, up from 1.5 tons in January. Officials say the strategy will not only boost foreign reserves but also help ease inflation and improve Ghana’s debt profile—key priorities after the 2022 debt default locked the country out of international credit markets.
Mining Weekly