Top 10 Leading Gold Producers in Africa

Africa is endowed with some of the largest gold reserves globally, boasting several countries with over 100 metric tons of this precious metal. These reserves provide substantial economic benefits and opportunities for growth throughout the continent.

Gold serves as a crucial economic stabiliser, enhancing foreign exchange reserves, reducing dependency on external borrowing, attracting foreign investment, and helping to stabilise national currencies.

The World Gold Council reports a 12% increase in global gold production over the past four years. The US Geological Survey estimated that 2023 gold production reached 3,000 metric tons, generating approximately US$38 billion in direct and indirect benefits for producing countries.

lists of the top 10 gold producers in Africa as follows:

1. Ghana

Known historically as the “Gold Coast,” Ghana is the leading gold producer in Africa. Gold mining has been a part of Ghana’s history since the 15th century and today contributes over 40% of the nation’s total export earnings.

2. Mali

Gold constitutes over 80% of Mali’s exports. The Ministry of Mines estimates that Mali holds 800 tons of gold deposits, along with quantities of other minerals.

3. South Africa

Once the world’s dominant gold producer, South Africa’s share has declined to 4.2% of global output. However, the gold mining industry remains a historic part of Johannesburg’s development, known as eGoli, or “City of Gold.”

4. Burkina Faso

The mining sector represents 14.3% of Burkina Faso’s state revenue, according to the Extractive Industries Transparency Initiative (EITI). In 2023, the country began constructing its first gold refinery to boost production.

5. Sudan

Gold is a major economic driver in Sudan, contributing about 4% to the nation’s GDP. Despite underdevelopment, the mineral sector is significant.

6. Guinea

Gold mining is vital to Guinea’s economy, especially in the Siguiri region.

7. Tanzania

Contributing over 4% to its GDP, Tanzania’s gold mining sector includes the Geita Gold Mine, one of the largest in Africa.

8. Côte d’Ivoire

In 2023, Ivory Coast’s gold production reached a record high with the opening of new mines, signaling continued growth in this sector.

9. Zimbabwe

With extensive gold reserves, Zimbabwe’s economy heavily relies on gold mining. The introduction of the gold-backed currency, Zimbabwe Gold (ZiG), is expected to further boost production in 2024.

10. Democratic Republic of the Congo

Known for its vast mineral wealth, the DRC is a gold producer. Despite some setbacks such as conflict and illegal mining, the eastern regions are rich in gold.