Ghana mined 5.94 million ounces of gold in 2025, a national record, and for the first time in over a century most of it did not come from the big mining houses. Small-scale and artisanal miners delivered 3.11 million ounces, 52.4 percent of the total, overtaking the large-scale industry that has defined Ghanaian mining since colonial days. That half of the industry has its own story, told in our small-scale mining in Africa guide. Anyone selling into this market needs to hold two pictures in mind at once: a booming national industry, and a large-scale sector that actually shrank 3 percent last year.
The corporate league table is being redrawn at the same time. Newmont sold a tier-one mine to a Chinese major, the state refused to renew a lease held by Gold Fields, and a mine built by Shandong Gold entered production. Here is who matters now, and why.
Who is the biggest gold mining company in Ghana?
Newmont is Ghana’s largest gold producer. Its Ahafo South mine is projected to deliver 400,000 to 500,000 ounces a year through 2029, and the new Ahafo North mine, which poured first gold in September 2025, adds another 275,000 to 325,000 ounces a year over a 13-year life.
Newmont’s position is striking because it got bigger by getting smaller. The company sold its Akyem mine to China’s Zijin Mining for up to 1 billion dollars, a deal that closed in April 2025, and concentrated its Ghanaian capital on the two Ahafo operations. Ahafo North is the first new large-scale gold mine Ghana has commissioned in years, and it reached commercial production in late October 2025, about six weeks after first pour.
The top 10, ranked by what they mean for the market
- Newmont. Ahafo South and Ahafo North, roughly 0.7 million ounces a year combined once North ramps up. The anchor of large-scale Ghanaian gold.
- Gold Fields. Tarkwa produced 537,000 ounces in 2024 and about 427,000 ounces in 2025, a decline the company attributes to lower ore processed. Its Damang story is below, and it changes how every miner in Ghana thinks about tenure.
- AngloGold Ashanti. Obuasi is rebuilding toward a long-term plan of around 400,000 ounces a year, with 2025 guidance of 250,000 to 300,000. Iduapriem went the other way, down 20 percent over the first nine months of 2025.
- Zijin Mining. Akyem’s new owner paid 900 million dollars at close and the final 100 million after Parliament ratified the extended lease in August 2025. Zijin also holds 39.6 percent of Kamoa-Kakula in the DRC. Ghana is part of a deliberate African build-out.
- Shandong Gold. Cardinal Namdini in the Upper East Region started producing in the first half of 2025, Shandong’s first self-built mine outside China, with nameplate capacity around 350,000 ounces a year.
- Asante Gold. Bibiani and Chirano together produced 189,600 gold-equivalent ounces in the year to January 2025. A new sulphide plant at Bibiani and a full operational review make this the one to re-check each quarter.
- Perseus Mining. Edikan delivered 177,167 ounces in the year to June 2025, about a third of the group’s output, with reserves supporting a mine life past 2032.
- Chifeng Jilong. The Chinese group bought Golden Star’s Wassa mine in 2022 with a 250,000-ounce-a-year ambition. Current output is buried in Chinese-language filings, which itself tells you something about disclosure standards to expect.
- Galiano Gold. Sole owner of Asanko since 2024. It cut 2025 guidance to 120,000 to 125,000 ounces after a confrontation between the military and community members forced a temporary pit suspension, a reminder that social licence is an operating parameter here, not a slogan.
- Heath Goldfields. The new holder of the Bogoso-Prestea leases after the state terminated Future Global Resources’ rights in 2024. The mine is being dewatered with a full drain projected for August 2026, while the ousted owner pursues a claim of roughly 1 billion dollars at the Permanent Court of Arbitration.
Why did Ghana take back the Damang mine?
The state refused to renew Gold Fields’ 30-year Damang lease when it expired in April 2025, granted a 12-month transitional lease, and completed the handover to government control in April 2026. It is the clearest signal yet that lease renewal in Ghana is a negotiation, not a formality.
The next test is Tarkwa, one of the country’s largest mines, whose renewal Gold Fields itself has described as a precedent-setter. Add GoldBod, the state gold board that bought and exported 104 tonnes of small-scale gold in 2025 and generated more than 10 billion dollars in foreign exchange, and the direction is unmistakable: the Ghanaian state wants a bigger seat at the table.
How much gold does Ghana produce?
Ghana produced 5.94 million ounces in 2025, up 23.4 percent on 2024’s 4.8 million, which was itself a record. It is Africa’s largest gold producer and eighth in the world. The Chamber of Mines is targeting about 6.5 million ounces for 2026.
What this means if you sell to mines
Three practical reads. First, the capital is flowing to specific holes in the ground: Ahafo North’s ramp-up, Bibiani’s new plant, Namdini’s first full years, Bogoso-Prestea’s dewatering, and Azumah’s Black Volta build near Wa, where construction began in July 2025 with first gold targeted for 2027. Those are procurement events, each with its own timeline of drilling, engineering, plant and maintenance contracts. Second, the buyer landscape is more Chinese than it was two years ago, which changes procurement culture and payment terms. Third, tenure risk now sits on every large-scale planning horizon, which tends to shorten contract cycles.
AMIQ tracks 2,200+ mining projects across Africa, Ghana included, with verified owner and engineer contacts for each. If Ghanaian gold is your market, the project-by-project view of who is building what, and who signs for it, lives at AMIQ. For the wider regional picture, start with mining in West Africa and gold mining in Africa.
Frequently asked questions
How many large gold mines operate in Ghana?
Around a dozen large-scale operations: Ahafo South and Ahafo North (Newmont), Tarkwa (Gold Fields), Obuasi and Iduapriem (AngloGold Ashanti), Akyem (Zijin), Bibiani and Chirano (Asante), Edikan (Perseus), Wassa (Chifeng), Namdini (Shandong) and Asanko (Galiano), with Bogoso-Prestea being restored.
Who buys small-scale gold in Ghana?
GoldBod, the state Ghana Gold Board created by law in 2025, is the required channel. It bought and exported 104 tonnes of small-scale gold in 2025, beating its 100-tonne target, and had purchased 135.8 tonnes cumulatively by May 2026.
Is Ghana still Africa’s top gold producer?
Yes. Ghana held the African top spot through 2024 and extended it in 2025 with record output of 5.94 million ounces, ahead of its nearest continental rivals.
