Ghana currently ranks sixth among the world’s top gold-producing countries, producing about 185 tonnes of gold in 2025, the Ghana Chamber of Mines has disclosed.

This means Ghana has climbed one place in the global rankings, surpassing the United States. In 2025, Ghana produced 5.94 million ounces of gold, equivalent to approximately 185 tonnes, while the United States’ output fell to about 5.1 million ounces, or approximately 158–160 tonnes.

Speaking during an interview with Bernard Avle on Channel One TV’s The Point of View on Monday, August 17, Director of Analysis, Research and Finance at the Chamber, Christopher Nyarko, disclosed that Ghana had moved up to sixth place globally.

“We are number six. We’re number six now, right after Peru. So globally, China, Russia, Australia, Canada, Peru, then Ghana comes in, and then the United States follows,” he said.

“Last year [2025], Ghana overtook the US, but traditionally, we’ve always been number seven,” Mr Nyarko said, explaining that gold production in the US declined due to technical challenges at mines in Nevada.

“Last year [2025], they ran into many technical issues. So production for the country as a whole dropped. And of course, given the dynamics in Ghana, we saw Ghana displace the United States,” he added.

He noted that China maintained its position as the world’s largest gold producer, followed by Russia, Australia, Canada and Peru.

He, however, noted that rankings among some of the leading producers can vary depending on the source of the data, particularly for China, Russia and Australia.

“Even depending on the kind of source of your data, there’s always some tension between Russia, China, and Australia, in terms of who is the largest producer,” he said.

Mr Nyarko said the Chamber relied on independent sources in assessing global gold production figures.

Ghana’s sixth-place ranking comes after a record year for domestic gold production, with the country producing 5.94 million ounces in 2025.

Small-scale mining accounted for 52.38 per cent of total output, overtaking the large-scale sector for the first time in Ghana’s more than 100-year history of commercial mining.

The Chamber has projected further growth in Ghana’s gold production in 2026, forecasting national output to reach between 6.1 million and 6.7 million ounces.

Ghana also maintains its position as Africa’s largest gold-producing country, ahead of Côte d’Ivoire and South Africa.

New gold purchasing arrangement

The development comes as the government implements a new gold purchasing arrangement for large-scale mining companies, which took effect on July 1, 2026.

Under the new arrangement, the government, through the Ghana Gold Board (GoldBod), purchases 30% of the total gold output of all large-scale mining companies in the country.

The arrangement was confirmed by the Minister of Finance, the Minister of Lands and Natural Resources, and GoldBod.

Under the previous arrangement, which had been in operation since 2022, the Bank of Ghana was required to directly purchase 20 per cent of gold output from large-scale mining companies.

The gold was supplied in refined bullion form and often exported before settlement, with pricing based on international spot prices converted using the Bank of Ghana’s reference rate.

Under the new model, however, responsibility for purchasing the gold has shifted to GoldBod. Mining companies are now required to sell 30 per cent of their gold output to GoldBod and supply it locally in doré form.

The price is pegged to the London Bullion Market Association (LBMA) benchmark at a 0.55 per cent discount and converted using the Bank of Ghana’s reference rate. All purchases are conducted in Ghana cedis.

Why the new system?

The new model is designed to support Ghana’s ambition of securing LBMA accreditation for at least one local gold refinery by 2030.

LBMA accreditation is important in the global gold industry because it sets standards for gold refiners and helps ensure that their output is internationally recognised and tradable.

All doré gold acquired by GoldBod is refined locally to maximise value retention within the country.

The refined gold is subsequently sent to an LBMA-certified refinery for melting and stamping before being returned to the Bank of Ghana as part of the country’s gold reserve holdings.

The arrangement aligns with the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), which seeks to build foreign reserves equivalent to 15 months of import cover by the end of 2028.

It also supports President John Dramani Mahama’s vision of eliminating raw mineral exports by 2030 through increased local processing and value addition.