Leading Gold Producing Countries in Africa – 2019

GOLD PRODUCTION IN AFRICA  

Table 7: Leading Gold Producing Countries in Africa – 2019

Data Sources: Metals Focus & World Gold Council (2020); *Compiled by Author

Figure 7: Leading Gold Producing Countries in Africa – 2019

Data Sources: Metals Focus & World Gold Council (2020); *Compiled by Author

BRIEFS:

• Africa is one of the global regions with strong exploration and mining of the precious metal (gold). Contribution of gold revenue to gross domestic product (GDP) and socio-infrastructural development in economies in Africa; and in economies in other regions across the globe cannot be overemphasised.

• In 2019, fifteen (15) African countries were included in forty-three (43) countries with significant gold production volumes across the globe.

• These 15 African countries and their respective global and Africa rankings as well as gold production volumes during the period are presented in Table 7 and Figure 7.

• The fifteen African countries produced 737.4 metric tonnes, equivalent to 22.53% of total volume of gold (3,272.7 metric tonnes) produced by the 43 global countries in 2019.

• Data in the table and figure indicate Ghana and Nigeria were the respective highest (142.40 metric tonnes) and lowest (14 metric tonnes) contributors from the African continent to major global gold production in 2019.

• Total gold volumes (337.2 metric tonnes) produced by Ghana (142.40 metric tonnes), South Africa (118.20 metric tonnes), and Sudan (76.60 metric tonnes) were equivalent to 45.73% of total gold production (737.4 metric tonnes) by the 15 African countries listed in the table and figure.

• Ghana’s total volume of gold production in 2019 was estimated at 142.40 metric tonnes. This was equivalent to 4.35% of total global gold production (3,272.7 metric tonnes); and equivalent to 19.31% of total gold produced (737.4 metric tonnes) in Africa during the period.

Respective total gold production volumes by South Africa (118.20 metric tonnes), Sudan (76.60 metric tonnes), Burkina Faso (62 metric tonnes), and Mali (61.20 metric tonnes) sufficed to affirm their 2^nd, 3^rd, 4^th, and 5^th rankings in Africa during the period.

• Total volume of gold produced by Tanzania (48 metric tonnes) in 2019 was the 6^th and 19^th highest in Africa and globally.

• Senegal’s total gold production capacity of 16.8 metric tonnes in 2019 was enough to place 33^rd globally, and 11^th in Africa after Guinea (30^th globally, and 10^th in Africa) with 27.5 metric tonnes.

• Eight (8) of the 15 countries listed in the table and figure are in West Africa. This suggests gold production in commercial quantities was more pronounced in the West African sub-region than anywhere else on the continent during the period.

• Numerical advantage of West Africa was corroborated by its quantitative contribution to Africa’s total gold production during the period. Total gold production by the 8 West African countries in the table and figure equalled 380.9 metric tonnes, equivalent to 51.66% of total gold production contributed by the African continent (737.4 metric tonnes) to total global gold production (3,272.7 metric tonnes) in 2019.
• However, total volume of gold produced by West Africa (380.9 metric tonnes) was less than the volume produced by China (383.2 metric tonnes) during the period under review.

Ebenezer Ashley (PhD),

Chartered Economist/

Business Consultant

Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen

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