Africa’s Gold Mining Powerhouses: A Look at the Top Gold Producers in 2024

NAIROBI, KENYA—A resolution has been made between Barrick Gold Corporation and the Mali government ending a long standoff dispute in the Sahel state. This follows disputes over the Loulou and Gounkoto gold mines where four Barrick employees were arrested.

The Mali Government is negotiating a contract that gives the Mali authorities greater control over its resources. This will in turn enable the country to keep a watchful eye on the smuggling of Gold.

Mali prides itself in being one of Africa’s largest producers of gold. The mineral can be found in regions like Mali-Sikasso, Koulikoro and Kayes. Gold in Mali is cheap to extract which is thus profitable to companies

Africa is a continent rich in minerals whereby gold is just one of them. Other minerals include iron ore, diamonds, petroleum and bauxite. Gold is found in various African countries which make it a golden continent. Below are a few of the African countries where gold can be found.

 GHANA

Ghana leads the charge with an estimated to produce annual production of 350,000 ounces of gold annually with more than 90% extracted from the Ashanti Region. According to provident metals, the country produces 100 metric tons of gold. This makes its trade important to the Ghana’s economy. In November 2024, Ghana will commission its first large-scale greenfield.

SOUTH AFRICA

A country that has continuously been ranked Africa’s greatest source of gold, South Africa produces roughly 190metrictons. Its gold mines include The East Rand mine in Boksburg and Tautona in Carletonville.

South Africa's Witwatersrand remains the largest source of gold in the continent and the world’s largest known gold deposit. Methods like panning, sluicing, dredging, hard rock mining and by-product mining are used to exploit this mineral. Hard rock mining is the most effective method of mining. The first gold bar in South Africa was produced in 1951.

ALGERIA

The history of gold mining in Algeria dates back to the Roman conquest of North Africa. The commercial exploration of the mineral however started in the 1980s.

Gold reserves in Algeria are found in Hoggar Shield in Southern region and a core of the Tureg shield. An estimated produce of gold in the country is 173.56 tons. According to the Observatory of Economic Complexity, Algeria exported $374k in gold with its current price being 351,164 DA per ounce.

LIBYA

The North African Arab nation produces 146.65 tons of gold annually with a price estimated to 12,482.65 per ounce. The main destinations of gold exports are United Arab Emirates and Turkey. The Libyan government has continuously challenged illegal mining of gold which is due to the political instability in the country following the era of Gadaffi. Recently the government thwarted a smuggling attempt of 100kg of gold at Misrata International Airport.

MOROCCO

Morocco has a rich history in the exploration og gold. In 1952, Jouravsky reported the existence of some gold occurences in the Palaeozoic lands of the Oriental Ogbel Makkham and the Central Hercynaina Massif of high atlas. Gold deposits in the country include Tiouit, Lourin, Boumadine, Azougarn Tillili and Tafrent Jbel Malek. These can be found im Jbel Saghro ,Tagragra of Akkaihliera and Ougrat among others. According to the Observatory of Economic Complexity, Morocco exported $41.5million in gold to countries like Turkey, Switzerland, Italy and Indonesia.

GUNIEA

According to the United Nations Economic Commission for Africa, reserves in Guniea are estimated at between 1000 to 2000 tons. The exploitation of gold in the county are artisanal and small scale valued at 300 million per year. On 17^th April 2023, Guinean government launched a $17 million-dollar project to reduce the use of mercury by the nations artisanal gold miners. This is to improve the human and ecosystem health in the country. Gold can be found in Siguri which is an open pit with shared ownership between Anglo Ashanti and the government of Guinea. There are 8 gold mining projects that are currently operating in the country. The Kiniero Project is an example of a gold mining project whch operated from 2002 to 2014.

SUDAN

Sudan is produces 107.3 tons of gold in 2017 alone which makes it one of the largest produces of gold in the continent. The only gold mine in the country is the Hassai Gold mine. Gold is however found in the Eriab region of the Eastern Nuba Mountains, North Kurdufan, Obaidiya and the Blue Nile. The Sudan Gold Refinery Company is the major exploiting company in the country. Its ownership is vested in the Central Bank of Sudan. It is however estimated that 50% of the Sudan’s gold is smuggled out of the country.

Gold is a very valuable mineral in the world. It has thus played a significant role in the growth and development of countries blessed with the mineral. Through the exportation of gold, countries are able to make government revenue and foreign exchange. The exploitation of gold also creates employment opportunities to Africans which has in turn improved livelihoods. The existence of gold however has led to instabilities in some African countries for example Libya where it is regarded as “the fuel of war”.