Ghana boosts gold supply with new scheme to buy artisanal output, targeting $20 billion annually

Artisanal and small‑scale mining (ASM) now accounts for about 24 % of global gold production, delivering roughly 932 tonnes in 2025, a 10 % year‑on‑year increase.

Ghana leads ASM output, producing around 102 tonnes of gold in 2024, overtaking large‑scale mines for the first time since 2010.

The Ghanaian government announced a program in which the Ghana Gold Board will purchase at least 2.45 tonnes of ASM gold each week, targeting 127 tonnes annually. The board will “consolidate purchases into a formal pipeline targeting more than $20 billion of annual inflows,” and is authorized to raise financing, hold several weeks of supply, and employ derivative and hedging tools to manage price risk.