Ghana continues to solidify its status as Africa’s leading gold producer, driving economic growth through several large-scale gold projects set to commence or expand production in the short to medium term. These new ventures are expected to boost employment opportunities, enhance local infrastructure and attract further foreign investment into the country’s mining sector.
Cardinal Namdini Mine
Located in northern Ghana and operated by Cardinal Resources, the Cardinal Namdini Mine is set to become Ghana’s first large-scale greenfield gold project in over a decade. With an estimated 5.1 million ounces of gold reserves and a 15-year production lifespan, the mine is projected to produce 358,000 ounces of gold annually starting mid-2025. The project achieved its first gold pour milestone in November 2024.
Ahafo North Project
Operated by Newmont, the Ahafo North Project is situated 30 km northeast of the company’s existing Ahafo South Mine. The project is designed to process 3.4 million tons of gold ore annually, yielding up to 325,000 ounces of gold per year starting in the second half of 2025. Construction commenced in early 2023, with engineering firm Lycopodium providing procurement and construction services.
Black Volta God Project
Developed by Azumah Resources in northwest Ghana, the Black Volta Gold Project is expected to produce 163,000 ounces of gold annually in its first five years, tapering to 148,000 ounces over the first nine years. Scheduled to commence operations in 2026, the mine has an 11-year production lifespan and estimated reserves of approximately 1.37 million ounces. Covering a 934-square-kilometer exploration area, Black Volta is one of the largest licensed zones outside of major mining players in Ghana.
Bibiani Mine
Canadian mining firm Asante Gold plans to select a contractor in Q3 2025 to develop underground mine infrastructure at the Bibiani Mine. The $116 million investment will include infrastructure upgrades and the installation of a sulphide treatment plant, enabling the extraction of an additional 831,000 ounces of gold. The project is anticipated to generate $675 million in net cash flow. The company plans to significantly increase activity at the mine, leading to a sharp rise in production starting in Q1 2025 and continuing throughout the year.
