Artisanal and small‑scale mining drove Ghana’s gold production to a record 6 million ounces in 2025, the Ghana Chamber of Mines told Reuters on Thursday. These smaller operators contributed roughly 3.1 million ounces, exceeding expectations and pushing overall output above the target.

Large‑scale mines maintained last year’s level, producing 2.9 million ounces. Kenneth Ashigbey, CEO of the Chamber, highlighted that reforms encouraging small-scale miners to channel gold into formal markets helped bolster total production. “Record-high bullion prices helped divert more artisanal supply into the formal sector,” he said at the Mining Indaba conference.

Looking ahead, the industry cautioned that Ghana’s projected 6.5‑million-ounce output in 2026 could face delays. Planned changes to the country’s mineral royalty structure—shifting from a fixed rate to a sliding scale of 5 percent to 12 percent linked to gold prices—may slow new projects and expansions.

The move to a variable royalty rate aligns with a wider trend across Africa, where governments are raising mining royalties to capture more revenue from natural resources amid rising commodity prices.