Ghana, an African country, with the help of China, is consolidating its position as a juggernaut in the gold sector thanks to the inauguration of the 3rd largest mine in the country.
Indeed, the West African country achieved this feat with the inauguration of the Namdini mine on November 8, 2024 by President Nana Akufo-Addo.
A gold mine with gargantuan promises for Ghana and China
Operated by the Chinese company Shangding Gold Limited, the Namdini mine promises impressive prospects with an annual production capacity of 330,000 ounces, or approximately 9 tonnes of gold.
This performance directly positions it as the third largest mine in the country, behind the giants of Tarkwa and Ayem, which produce 15.6 and 11.9 tonnes per year respectively.
With an estimated lifespan of 15 years, this new asset represents a major strategic investment for the Ghanaian economy.
The project is accompanied by equally promising parallel initiatives, including the construction of a large-scale mine in the Upper West region by Australian Azumah Resources, whose production potential is estimated at 163,000 ounces annually for its first five-year period of operation.
The dynamics of the Ghanaian gold sector is also reinforced by the imminent Ahafo North project, led by the American giant Newmont.
This operation is expected to generate between 275,000 and 325,000 ounces of gold per year, contributing significantly to the national production target set at between 4.3 and 4.5 million ounces for 2024, a notable increase from the 4 million of ounces produced in 2023.
In a process of vertical integration of its gold industry, Ghana has taken a further step with the creation of the Royal Ghana Gold Refinery, a refinery with a processing capacity of 400 kg, the result of an innovative public-private partnership .
This strategic installation will allow the country to control the entire value chain, from extraction to processing.
