Frequently Asked Questions

Gold mining in Ghana dates back to the 10th century. Commercial gold mining began in the country in the early 19th century, with several mines established by Europeans during the colonial times. Obuasi was the location of the first large-scale mining operation in Ghana where, in 1897, gold was discovered. 

In Ghana, gold mining companies have to pay royalties, which are governed by the Minerals Income Investment Fund (MIIF) Act, as a form of compensation for extracting the country’s mineral resources. The MIIF helps ensure that the funds raised are used to benefit local and state communities. 

The Akyem mine is in Ghana’s eastern region. Beginning commercial production in 2013, and the mine produced more than 500,000 ounces of gold in 2020. 

The Tarkwa mine is not only the largest open–pit gold mine in Ghana, but it is also the largest in the whole of Africa. The mine produces around 551,000 ounces of gold annually, and, in 2023 alone, processed 14.1 million tonnes of ore. This makes Tarkwa a vital West African asset, and it plays a crucial role in Ghana’s overall gold production strategy. 

In 2024, Ghana’s gold exports reached a value of $11.6 billion, which represented a 52.6% increase on 2023’s exports, which were valued at $7.6 billion. 

GoldBod is a new gold board established by the Ghanian government in early 2025. Its directive is to streamline how gold is purchased from small-scale miners, reduce smuggling and increase earnings. Foreign companies were ordered to exit local gold trading markets by 30th April 2025, apart from those able to apply to purchase gold directly from GoldBod. 

Afrimex was the third company licensed by GoldBod as a self-financing aggregator, making it one of the first companies authorized to export gold from Ghana since the April 2025 regulations. 

Ghana’s Western North region has become known for its artisanal gold mining activities, particularly in areas like Bodi and Sefwi Wiawso. Furthermore, the rise of small-scale mining in the Western North region is contributing to Ghana’s overall gold production. 

As well as gold, other minerals are mined in Ghana. These include bauxite, which is currently being mined by the Ghana Bauxite Company Limited at Awaso, and manganese, which is being mined by the Ghana Manganese Company Limited at Nsuta. 

Afrimex was the third company licensed by GoldBod as a self-financing aggregator, making it one of the first companies authorized to export gold from Ghana since the April 2025 regulations. 

The Agyapa Royalties deal was introduced by the Ghanian government in 2020, created to monetize part of gold mining royalties via a special purpose vehicle to be listed on international stock exchanges. 

Afrimex was the third company licensed by GoldBod as a self-financing aggregator, making it one of the first companies authorized to export gold from Ghana since the April 2025 regulations.