Gold Prices Rise As Miners Increase Production At Obuasi Mines In Ashanti Region

Gold prices have increased on the world market as miners increase production at the Obuasi Mines in the Ashanti Region, according to reports from the Ghana Chamber of Mines and the Minerals Commission.

The increase was confirmed by the Chief Executive Officer of the Ghana Chamber of Mines, Mr. Sulemanu Koney, during a press briefing held in Accra on Monday, May 12, 2026. The briefing was covered by Ghana News Agency (GNA) and Joy Business.

According to Mr. Koney, gold prices on the international market have increased from $2,300 per ounce to $2,450 per ounce due to high demand from global markets. He said this has encouraged mining companies in Ghana to increase production to take advantage of the high prices.

Speaking to Citi Business News in an interview, Mr. Koney explained that AngloGold Ashanti Obuasi Mine has increased its production by 25 percent in the first quarter of 2026. He said the mine produced over 80,000 ounces of gold between January and March 2026, compared to 60,000 ounces in the same period last year.

According to a statement from AngloGold Ashanti Ghana, the Obuasi Mine has employed new technology and machinery to improve efficiency and production. The statement signed by the Managing Director of AngloGold Ashanti Obuasi Mine, Mr. Samuel Boakye Pobee, said the company has also employed more workers from host communities.

Mr. Pobee in an interview with Ghana News Agency said the company is committed to sustainable mining and environmental protection. He said AngloGold Ashanti has invested in community development projects including schools, hospitals and roads in Obuasi and surrounding communities.

He said, “We have increased production because of the good gold prices and our new operational strategy. We are also ensuring that our operations do not harm the environment. We are reclaiming mined lands and planting trees. This is what we told Joy Business during our engagement.”

The Chief Executive Officer of the Minerals Commission, Mr. Martin Kwaku Ayisi, confirmed the production increase during an interview with Graphic Business. He said gold production in Ghana has increased by 15 percent in 2026 due to increased investment in the mining sector by both large scale and small scale miners.

According to Mr. Ayisi, Ghana remains Africa’s leading gold producer and the government is taking steps to ensure that mining benefits local communities. He said the government through the Minerals Commission has licensed more small scale miners and provided them with training on responsible mining.

The Ashanti Regional Minister, Dr. Frank Amoakohene, in a statement reported by Peace FM, said the increase in gold production at Obuasi is good for the economy of the Ashanti Region. He said mining provides jobs for thousands of youth and contributes to the development of the region.

Some miners in Obuasi have expressed happiness about the price increase. Mr. Kwabena Osei, a small scale miner at Obuasi, told Ghana News Agency that the high gold prices have improved his income. He said he is now able to make more profit and take care of his family.

Madam Akosua Frimpong, a trader who sells mining equipment at Obuasi Market, said in an interview with Joy News that her business has improved because miners are buying more equipment to increase production. She said she sells safety boots, helmets and shovels to miners.

According to the Bank of Ghana, gold remains Ghana’s major export commodity and contributes significantly to foreign exchange earnings. The Bank in a report published by Ghana News Agency said gold exports brought over $7 billion into the Ghanaian economy in 2025.

The Ghana Chamber of Mines has urged government to maintain a stable fiscal regime to encourage more investment in the mining sector. The Chamber also called on government to improve road infrastructure in mining communities to facilitate transportation of gold and mining equipment.

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