Ghana's gold production is projected to reach between 6.1 million ounces (oz) and 6.9 million oz in 2026. This forecast indicates sustained historically high levels of output. The Ghana Chamber of Mines expects both large-scale and small-scale miners to increase their production.
This outlook follows a strong performance in 2025. In that year, small-scale miners produced more gold than large-scale producers for the first time in over a century. Their success indicates these miners' growing importance in Ghana's gold industry. The small-scale sector is capable of matching or even exceeding the output from large-scale operations.
This significant shift fits into a broader positive economic trend for Ghana. Real Gross Domestic Product (GDP) increased by 5.95 percent in 2025, reaching GHS 209.64 billion. The gold mining sub-sector was a key driver of this growth, expanding by 19.6 percent. Gold's contribution to GDP rose from 7.97 percent in 2024 to 9.98 percent in 2025, making it the economy's largest sub-sector. This also boosted its share within the broader industrial sector from 13.8 percent to 14.8 percent.
Michael Edem Akafia, the outgoing president of the Ghana Chamber of Mines, confirmed these figures. He stated that attributable gold output increased by 23.41 percent, from 4.82 million oz in 2024 to 5.94 million oz in 2025. This surge was largely due to a 63.82 percent increase in small-scale gold production, from 1.90 million oz to 3.11 million oz. Mr. Akafia attributed this growth to reforms, including the establishment of the Ghana Gold Board. This meant small-scale mining accounted for 52.4 percent of national output in 2025, surpassing large-scale producers.
Conversely, large-scale gold production saw a slight decline of 2.98 percent. It fell from 2.92 million oz in 2024 to 2.83 million oz in 2025. This reduced its share of national output from 60.6 percent to 47.6 percent. The decline in large-scale output was observed across most operations, except for Asanko Gold Mine and AngloGold Ashanti's Obuasi Mine. Newmont's Ahafo Mine, Cardinal Resources Limited's Namdini Mine, and Zijin's Akyem Mine supported output in the large-scale segment.
The mining sector's future outlook depends on several factors. Mr. Akafia emphasized the need for policy certainty and regulatory reforms. Timely lease renewals and improved governance of small-scale mining activities are also crucial. Continued investment across the mineral value chain will ensure sustained growth. These elements will shape how Ghana's gold sector performs in the coming years.
The strong performance in gold parallels other mineral outputs. Manganese production rose from 5 million tonnes in 2024 to 5.2 million tonnes in 2025. Bauxite production increased by 21.9 percent in 2025. However, diamond production declined sharply by 40.65 percent, from 332,297 carats in 2024 to 197,233 carats in 2025. The chamber attributed this to weaker natural diamond prices and competition from lab-grown diamonds. For 2026, manganese production is projected between 5 million and 6 million tonnes. Bauxite output is expected to range from 2.5 million to 3 million tonnes. Diamond production is forecast between 150,000 and 250,000 carats.