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In 2023, Ghana produced around 4.2 million ounces of gold, contributing to approximately 4% of the world’s total output. The main gold-producing regions are Ashanti, Western, and Eastern regions, with major players including Newmont, Gold Fields, AngloGold Ashanti, and Kinross Gold. Gold exports in 2022 accounted for about 12.3% of Ghana's GDP.
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [28] The country is also the second-largest cocoa producer (after Ivory Coast). [29] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
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Ongoing — COVID-19 pandemic in Ghana 20 January – A truck carrying explosives to a gold mine explodes after crashing into a motorcycle in Apiate , Western Region ; the explosion destroyed nearby buildings and vehicles, killing 17 people and injuring 59 others.
In September 2021, the Bank of Ghana began the process of withdrawing GH₵1 and GH₵2 notes from circulation to encourage the use of coins of their corresponding face values. [8] [9] In August 2022, accelerating inflation and continued economic mismanagement has caused the cedi's value to drop to 10 U.S. cents (GH₵10 = US$1). [10]
VALCO smelts alumina to produce aluminium ingots at its smelter at Tema.Locally, a major Ghanaian customer of VALCO is Aluworks.While one motivation for establishing the plant was the local availability of bauxite in Ghana, the major raw material of alumina, VALCO has for many decades imported alumina to produce aluminum.
Industry in Ghana accounts for about 24.5% of total GDP. [1] However, Ghana's industrial production is rising at a 7.8% rate, giving it the 38th fastest growing industrial production in the world [ 2 ] due to government industrialization policies.
Cocoa beans and cocoa harvest processing. Ghana's cocoa production grew an average of 16 per cent between 2000 and 2003. [18] Cocoa has a long production cycle, far longer than many other tropical crops, and new hybrid varieties need over five years to come into production, and a further 10 to 15 years for the tree to reach its full bearing potential.