Ghana Ranks Fifth in Africa's Top Mining Destinations Amid Gold Boom and Sector Reforms
For Immediate Release
ACCRA, GHANA — Ghana has climbed to fifth position in The Africa Report and Jeune Afrique's 2026 ranking of Africa's 25 top mining destinations, advancing five places from tenth position in 2024.
The ranking, one of the most closely watched assessments of mining investment conditions across the continent, cited record gold prices and improved sector governance as the primary drivers of Ghana's strong upward movement.
Ghana remains Africa's largest gold producer. The country's gold production reached 4.8 million ounces in 2024, up from 4.0 million ounces in 2023. Gold accounts for approximately 40 per cent of Ghana's total export earnings and close to 90 per cent of total mineral export revenue.
The ranking was based on five cross-referenced criteria including reserve volumes across thirteen major minerals, project momentum in critical metals, business environment and country risk, legal framework and governance, and energy and transport infrastructure.
"Ghana's advancement in this ranking reflects years of deliberate policy work. The establishment of the Ghana Gold Board, the formalisation of the artisanal sector, and the consistent improvement of the regulatory environment have all contributed to making Ghana a more attractive and reliable destination for long-term mineral sector activity." Marcus Briggs, Non-Executive Director, Icon Gold
Ghana's ascent was fuelled by record-high gold prices, which surged 65 per cent in 2025, alongside improved sector governance including the establishment of the Ghana Gold Board, known as GoldBod, in March 2025.
GoldBod has become the sole legal aggregator, assayer and exporter of all gold produced by licensed artisanal and small-scale mining operators in Ghana. The Board's establishment has significantly reduced the volume of gold leaving the country through informal channels and has strengthened the integrity of Ghana's gold supply chain in the eyes of international buyers.
The ranking also recognised new project developments in bauxite and lithium, signalling that Ghana's mineral economy is broadening beyond its traditional gold base. The Ewoyaa lithium project, developed by Atlantic Lithium in partnership with Piedmont Lithium, is expected to become Ghana's first lithium-producing mine, positioning the country to benefit from growing global demand for battery materials.
"What is particularly encouraging about Ghana's position is that the ranking factors in stability, infrastructure, and governance alongside raw resource volumes. That means Ghana's rise reflects genuine structural improvements, not simply a favourable commodity price cycle. The foundations being built now will support the sector well beyond the current gold price environment." Marcus Briggs, Non-Executive Director, Icon Gold
Ghana, Zambia, and Côte d'Ivoire were identified in the 2026 edition as the decade's strongest challengers, boosted by elevated commodity prices and improved sector governance frameworks.
The broader 2026 ranking reflects an African mining landscape undergoing significant transformation. Investor diversification, reshaped global supply chains, and rising expectations around transparency and regulatory stability are reshaping how mining destinations are assessed and prioritised by international operators and financiers.
Ghana's strong performance in the ranking adds further momentum to the country's efforts to position Accra as a regional hub for mineral sector governance, investment, and expertise across West Africa.
— Ends —