Ghana regains position because the main gold producer in Africa

Ghana has resumed her position because the main gold producer in Africa.

Ghana

Ghana has resumed her position because the main gold producer in Africa. President Akufo-Addo disclosed this in Parliament while he brought his ultimate State of the Nation (SONA).

“Mr. Speaker, final 12 months, Ghana regained her position as the leading manufacturer of gold in Africa, having overtaken South Africa. Our gold manufacturing reached an exceptional 4 million oz, in step with initial reviews.

“This is as a result of the revolutionary regulations we were imposing, which have led to the revival of dormant mines like the Obuasi and Bibiani Mines, and the enlargement of current ones. The reduction in withholding tax on unprocessed gold by small-scale miners, from three% to at least one.5%, has ended in a few 900% increment in gold export from the small-scale sector, over the last years.”

Related News

The President said leveraging on these resources, his management added the revolutionary Gold for Oil Policy, which bills for a few 30% of our total crude oil intake.

“Currently, 3 big scale mines are below production in Ahafo, Upper East and Upper West Regions, with Cardinal Namdini set to pour its first gold inside the Upper East Region inside the ultimate region of this 12 months. With these new mines, our gold manufacturing is predicted to boom to some four.5 million ozannually.

“Mr. Speaker, to add price to these volumes of production, we have built, thru a public non-public partnership, a 400kg ability gold refinery, and we are in the very last tiers of negotiations for a London Bullion Market Association (LBMA) Certificate.

For our green minerals, consisting of lithium, we’ve installed area a coverage for their exploitation and control, to make sure beneficiation throughout the price chain of these critical minerals,” he referred to.

He continued that Newmont Corporation, the sector’s largest gold-generating corporation, which operates huge mines in Ghana, is constructing a 3rd, and has introduced its goal to promote its Akyem Mine inside the Eastern Region, the third biggest mine inside the u . S . A ., which produced a few 420,000 oz of gold in 2022.

“As part of Government’s policy to indigenous the mining sector, we will engage with Newmont to offer priority to Ghanaian investors who will want to accumulate this mine, to make certain that our mineral assets better advantage the Ghanaian humans,” President Akufo-Addo brought.

Leave a Reply

Your email address will not be published. Required fields are marked *