Professor Jane Naana Opoku-Agyemang, the Vice President of Ghana, revealed that in 2024, GHȻ 88.1 billion was added to the country’s GDP through gold trade, while gold export recorded US$ 11.2 billion in August 2025.
Speaking at the official inauguration of the Newmont Ahafo North Mine on Thursday, she attributed the gains of the gold sector to growing investor confidence in the economy of Ghana.
Ghana, she said, is and will forever be linked with gold because Ghana’s history is gold. Gold has always defined the country and has contributed immensely to the economy of Ghana. Ghana currently stands foremost in the African Continent in gold production. This shows that Ghana has a lot of potential, she added.
“Ghana, our beloved country, cannot be separated from gold. It has shaped our history, sustained our communities, and strengthened our economy. Today, Ghana proudly stands as Africa’s number one gold producer and the sixth largest in the world, a reflection of confidence in our economy, governance, and national potential.”
H.E. Prof. Jane Naana Opoku-Agyemang, Vice President of Ghana
The Vice President made a bold claim to further boost investor confidence in the Ghanaian economy as she declared a successful partnership between Newmont Corporation and Ghana. With over US$ 1 billion investment made by the Corporation, it is lucrative and safe to invest in Ghana.
According to her, this successful partnership validates that Ghana offers stability, opportunity, and capacity for global investments. Ghana needs to develop more of such collaborations for sustainable growth and development, she said.
She also mentioned that the government, private businesses, and communities in Ghana can work together effectively to achieve great results. All stakeholders are responsible for working together to protect the investment made.
“The success of the Ahafo North project reflects what we can achieve when government, business, and communities work hand in hand for sustainable growth. Our collective responsibility is to protect and sustain such investments, ensuring that both local communities and investors benefit from them.”
H.E. Prof. Jane Naana Opoku-Agyemang, Vice President of Ghana
Prof. Jane Naana Opoku-Agyemang assured Ghanaians that the benefits from the partnership with Newmont Corporation and all other such mining deals shall benefit all Ghanaians and not just a few.
To ensure the effective management of the gold that is mined in Ghana, the government established the GoldBod, which is backed by law. While the GoldBod works in the interest of Ghanaians, they will strengthen partner communities and conduct their work with all transparency.
“We have established the Ghana GoldBod and are reviewing the Minerals and Mining Acts to strengthen local participation and enhance transparency for the greater benefit of our people.”
H.E. Prof. Jane Naana Opoku-Agyemang, Vice President of Ghana
Newmont Corporation
Newmont, founded in 1921, is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s mining jurisdictions are in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and an industry leader in value creation. The corporation is supported by robust safety standards, superior execution, and technical expertise.
The announcement of the first gold pour at Ahafo North Mine was on September 19, 2025. This began a complete development program: extensive infrastructure construction, processing facility commissioning, and workforce development initiatives.
The Company’s Chief Executive Officer, Tom Palmer, since the Ahafo North mine became operational, has been excited and grateful the its investors and host (Ghana) for making this possible in a short period of time.
“Achieving commercial production at Ahafo North represents a significant milestone for Newmont and our partners in Ghana. This new world-class operation demonstrates our commitment to operational excellence while creating enduring value for our investors, communities, host governments, and all our stakeholders in this premier mining jurisdiction.
“It’s rare in our industry to see a new mine come to life within a single career. I’m incredibly proud of what our teams have achieved and honored to have been part of this project from the very beginning.”
Tom Palmer, Chief Executive Officer, Newmont
According to Newmont, the Ahafo North is expected to produce approximately 50,000 ounces of gold in 2025, with production ramping up through 2026 to achieve full operational capacity.
Over the next five years, the operation is positioned to deliver between 275,000 and 325,000 ounces of gold annually over a 13-year mine life, making it a cornerstone asset in Newmont’s global portfolio, the Company declared.
The Ahafo North mine will create considerable economic opportunities, generating about 4,500 contracted jobs during construction, 560 permanent jobs, and 1,000 contracted positions for ongoing operations.
The Vice President urged the Ahafo Mine not to mine gold alone, but bring “hope, prosperity, and progress for the people of Ahafo and for Ghana as a whole.”
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