INSUBCONTINENT EXCLUSIVE:
brightly on the continental stage
This marked an 8.3% rise from the previous year
South Africa, once the undisputed leader, now trails behind.Other major producers like Sudan, Mali, and Burkina Faso also lag in comparison
This translated to $5 billion in revenue
significantly to the national coffers
Large-scale producers drive much of this success
Companies like AngloGold Ashanti and Newmont Ghana Gold Ltd lead the pack.However, small-scale mining operations also play a crucial role
They contributed $1.7 billion in exports during the first half of 2024 alone
The government has implemented initiatives to maximize benefits from the gold sector.The Domestic Gold Purchase Programme, launched in 2022,
encourages local gold sales
beyond mere production figures
The country ranks sixth globally in gold production
This achievement gains even more significance considering the recent surge in gold prices.Gold reached a record $2,482 an ounce in July 2024
Environmental concerns loom large, particularly regarding small-scale mining operations.The government faces pressure to balance economic
gains with ecological responsibility
The government is considering removing VAT on exploration to encourage investment.It also promotes local refining and processing of gold
moz (projected for 2024)South Africa: Historically the largest producer, now second to GhanaSudan: Emerging as a significant
contributorMali: Major producer, but facing production declinesBurkina Faso: Rising producer despite security challengesTanzania: Steady
