The Ghana Chamber of Mines is anticipating gold production to surpass 4.5 million ounces in 2024.

The Chamber’s President, Joshua Mortoti, observed that the mining sector, despite the economic challenges of 2023, witnessed some improvement.

In the upcoming year, small-scale mining companies are projected to contribute between 1.1 million and 1.3 million ounces of gold, while large-scale gold mining firms are expected to produce 3.4 million ounces.

Mines like Obuasi and Tarkwa, which are nearing the end of their lifespan, are part of the production estimate.

Mr. Mortoti stated, "With a projected output range of 1.1 million ounces to 1.3 million ounces in 2024 from the small-scale sector, the national gold output is expected to exceed 4.5 million ounces in 2024. Including manganese production, the planned output for 2024 is 5 million tonnes."

Also, the Minister of Lands and Natural Resources, Mr Samuel A. Jinapor, highlighted the government's commitment to providing adequate security for mining concessions, emphasizing the importance of a secure environment for productive mining operations.

He assured: "Whatever we need to do to ensure that your concessions are safe, we will do it," and encouraged the Chamber's leadership to communicate any specific or special cases that require attention.

In the third quarter of 2023, data revealed that production attributable to the Ghana Chamber of Mines member businesses was 2.14 million ounces, slightly lower than the 2.18 million ounces recorded for the same period in 2022.

Meanwhile, small-scale miners experienced an increase in production, rising from 0.66 million ounces in 2022 to 1.12 million ounces in 2023, marking a substantial 70.6% growth.