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kufo-Addo’s actions helped Ghana recover the top rank in terms of gold production – Jinapor

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The policies of President Akufo-Addo have been praised by the Ministry of Lands and Natural Resources as the main factor in Ghana regaining its status as Africa’s top gold-producing nation.
With a 32% increase in gold output in the previous year, Ghana reclaimed the top rank as the continent’s main producer of the metal from South Africa.
In 2021, Ghana’s position was lost to South Africa due to a sharp decline in output. However, the nation has made a spectacular recovery with a fresh concentration on the mining industry.

Due to expansion in both the large-scale and small-scale mining sectors, gold production increased dramatically from 2.8 million ounces in the previous year to an astonishing 3.7 million ounces in 2022.
The resurrection of the AngloGold Ashanti Obuasi Mine in 2019 and the Bibiani Mine in 2022, according to the Ministry of Lands and Resources, is responsible for this upsurge. The reopening of these two important mines significantly increased the amount of gold produced.comeback.

“Gold production by large-scale mining companies increased from 2.72 million ounces in 2021 to 3.08 million ounces in 2022, whilst gold exports from the small-scale sector rose from 98,001 ounces to 655,656 ounces over the same period. Overall, the country’s gold output increased from 2.82 million ounces in 2021 to 3.74 million ounces in 2022.

“It would be recalled that following the active intervention of the President of the Republic, H.E. Nana Addo Dankwa Akufo-Addo, the AngloGold Ashanti Obuasi Mine, which was put under care and maintenance in 2016, was revived in 2019.

“The Bibiani Mine, which had been dormant for seven (7) years, was also revived in October 2022. The revival of these two mines, the expansion of output by some existing mines, and the reduction of the withholding tax rate on unprocessed gold by small-scale miners, which was introduced in 2015, from three percent (3%) to one and a half percent (1.5%), have contributed significantly to Ghana’s new position on the continent.”

The statement signed by sector Minister Samuel Abu Jinapor added that “in 2022, the AngloGold Obuasi Mine increased its gold production by one hundred and thirty-two percent (132%) from the previous year, whilst the Bibiani Mine, which had not produced gold in the last seven (7) years, contributed over fifty-two thousand ounces (52,000oz) to our gold output.”

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