ACCRA, March 25 (AGCNewsNet) - Ghana's gold export revenue soared to $11.6 billion in 2024, marking a 52.6% increase from the $7.6 billion recorded in 2023, reinforcing the sector's critical role in economic expansion.

Gold exports accounted for 57% of Ghana's total export revenue, with small-scale miners contributing $5 billion to the sector, according to a report distributed by the APO Group on behalf of Energy Capital & Power.

As Ghana continues to ramp up production, the upcoming Mining in Motion conference, scheduled for June 2-4, aims to connect global investors with opportunities in the country's gold value chain. The event is expected to facilitate deal signings and bolster trade relations with Ghana's leading gold export markets.

Ghana remains Africa’s top gold producer and a key supplier to global markets. Asia emerged as the primary importer of Ghanaian gold, followed by Europe and Africa. In 2024, gold made up 65.4% of Ghana’s total exports to Asia, 60.2% of exports to Europe, and 49.4% of exports across Africa.

The report revealed that more than half of Ghanaian gold exports to each continent were concentrated in a single country: 53.1% of exports to Asia went to the United Arab Emirates (UAE), 60.2% of exports to Europe were directed to Switzerland, and 60.5% of African exports were received by South Africa.

Asian markets, particularly China and India, strengthened their gold trade with Ghana, while European buyers included the Netherlands, Spain, Italy, Germany, the United Kingdom, Belgium, France, Bulgaria, Portugal, Poland, Gibraltar, and Estonia. In Africa, Burkina Faso, Ivory Coast, Togo, and Mali were the top importers of Ghanaian gold.

Beyond these regions, Canada accounted for 58.6% of Ghana’s gold exports to North America, while Brazil received 94.1% of the country’s gold exports to Latin America.

Looking ahead, Ghana’s expanding gold production is expected to drive further trade with its top export markets, as foreign investors deepen their stakes in the sector. The UAE’s Emiral Resources is the largest shareholder in Asante Gold Corporation, which is executing a $522 million expansion strategy, including the development of the Bibiani project. Meanwhile, India’s Rosy Royal Minerals holds an 80% stake in the Royal Ghana Gold Refinery, the country's first gold refinery, positioning India as a key player in Ghana’s gold value chain.

Mining in Motion will feature high-level discussions, networking sessions, and project showcases aimed at reinforcing Ghana’s role as a key gold supplier to global markets. (AGCNewsNet)

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