- May 25, 2025
Future of Ghana’s Mining Industry
1. INTRODUCTION
Ghana is the number One producer of gold in Africa and the 11th in the world with about 4.9 million ounces of that precious mineral produced in 2024 alone. In addition to gold, the country is rich in bauxite, manganese, lithium, among others. And the high deposits of these minerals should have made the future of mining in the country promising.
However, despite its high prospects, the future of mining in Ghana is shaped by challenges and hurdles such as strenuous regulations, environmental concerns, and unsustainable mining practices.
As a Mining Consulting Company, Geominerals and Investment Consult Company (GICC) plays a critical role in helping stakeholders in the mining industry navigate these opportunities and challenges effectively.
2. OPPORTUNITIES IN GHANA'S MINING INDUSTRY
2.1 Expansion of the Gold Mining Industry
Ghana has consistently ranked among the top gold producers globally, and with increasing investments in exploration and mining technology, gold production is expected to grow. New discoveries and advanced mining techniques are unlocking untapped reserves, benefiting investors and mining companies. An article published by Norvan Reports stated that Ghana’s gold production is forecast to surge to 136 tonnes in 2025, representing a modest 3% increase from an estimated 132 tonnes in 2024.
Also, Newmont’s Ahafo North Project, which is scheduled for commissioning in mid-2025 is anticipated to play a crucial role in boosting Ghana’s annual gold production. Along with the Namdini project, it is expected to add at least 600,000 ounces of gold per year, further strengthening the country’s status as a global gold producer.
These new mining projects reflect the continued investment and confidence in Ghana’s mining industry, paving the way for economic growth, job creation, and increased foreign exchange earnings.
By 2025, Ghana’s mining industry is poised for major growth, with numerous new projects about to start. These developments are expected to enhance the country’s gold production capacity and reinforce its position as a leading gold producer in Africa.
One of the most notable projects is the Namdini Gold Project, located in the, Talensi District of the Upper East Region. The project, which was commission in November 2024, is being managed by Cardinal Resources Ltd, a subsidiary of Shandong Gold and it is expected to become one of the largest single-stream gold mines in West Africa, with an estimated production of five million ounces over a 15-year lifespan.
The scale and longevity of this project highlight its potential to contribute significantly to Ghana’s mining industry and economy.
2.3 Infrastructure Development
Ongoing infrastructure projects such as road networks, power supply improvements, and rail connectivity are making mining operations more efficient and cost-effective. These developments reduce transportation costs and enhance access to mining sites, attracting more investment in the industry. As of March 3, 2025, an article published by the Ghana News Agency (GNA) stated that, The Minerals Commission (MinCom) has embarked on an ambitious project to develop world-class mining infrastructure in regions and districts of Ghana.
The initiative aims to transform the country’s mining industry, driving economic growth, creating jobs, and improving lives. Mr. Martin Kwaku Ayisi, the Chief Executive Officer (CEO) of MinCom told GNA that the project would involve the development of modern laboratories and testing facilities, advanced geological mapping and surveying technology, state-of-the-art mining equipment and machinery, efficient transportation networks and logistics facilities, and enhanced safety and security features for mining operations.
2.2 Lithium and Critical Minerals Boom
The global demand for lithium and other critical minerals essential for renewable energy technologies has put Ghana in the spotlight. According to the 2023 Critical Minerals Market Review by the International Energy Agency, demand for lithium, for example, tripled from 2017 to 2022. Similarly, the critical minerals market doubled in five years, reaching US$320 billion in 2022. The demand for these metals is projected to increase sharply, more than doubling by 2030 and quadrupling by 2050 with annual revenues projected to reach US$400 billion. With the recent discovery of lithium deposits, the country has a unique opportunity to diversify its mining industry and position itself as a key player in the green energy revolution.