By Enyichukwu Enemanna
Ghana’s Gold Board CEO, Samuel Gyamfi on Tuesday said his agency has purchased up to 54 metric tons of gold from artisanal and small-scale miners (ASM) in the first half of 2026, stating that output from the sector is on track to reach or surpass last year’s record.
Analysts say the figures and prediction point to yet another strong year for the West African nation’s biggest export and foreign exchange earner, helping underpin dollar inflows and support an economy emerging from its worst financial crisis in decades.
Africa’s largest gold producer, Ghana has seen artisanal and small-scale miners output increase, in response to sector reforms to stem smuggling losses and boost foreign exchange earnings.
Production hit a record high last year, standing at 104 metric tons, overtaking large-scale mining output for the first time.
“We are around 50-54 metric tons this year (in purchases),” Gold Board CEO, Gyamfi told reporters. “At this rate, we are likely to match or even surpass last year’s output.”
Gyamfi said the board generated nearly $11 billion in foreign exchange earnings from the ASM sector last year, while large-scale miners contributed about $9 billion.
However, the recent decline in gold prices had reduced earnings expectations, he said. Gold Board, according to the CEO had based its 2026 forecasts on an average gold price of about $5,000 per ounce and weekly purchases of around 2.5 metric tons.
Despite the lower prices, Ghana was still on course to generate higher gold export earnings than last year, Gyamfi said, as average bullion prices remain above 2025 levels, though below the Board’s initial projections.
