At a Glance
- West Africa strengthens dominance as major miners expand production across emerging gold belts.
- Ghana and South Africa maintain strong output despite capital, cost and operational pressures.
- Mid-tier producers gain ground through acquisitions, efficiency upgrades and new mine projects.
Africa’s gold industry is entering one of its most transformative periods in decades, with Ghana, South Africa, Mali and Côte d’Ivoire shaping a new production map.
Rising investment, stronger West African output, expanding mine developments, and efficiency-focused operations are pushing the continent’s top producers to record volumes.
Ghana and South Africa continue to anchor the continent’s output, but cross-border producers—from Barrick in Mali to Endeavour and Perseus across West Africa—are rewriting Africa’s ranking of high-volume gold producers.
With new projects coming online and West Africa tightening its lead, Africa’s gold output is expected to rise steadily over the next decade. Investment momentum, renewed exploration and expanding mine automation will shape the next phase of growth.
As global demand for bullion climbs amid economic uncertainty, Africa’s biggest gold producers are scaling production, cutting costs and deepening exploration across major belts.
Shore Africa ranks the top 10 biggest gold producers in Africa, highlighting where output is rising, which countries are gaining market share, and how geopolitical changes are influencing investment flows across the continent’s gold mining industry.
1. Newmont Mining Corporation (Ghana) — 4.5 million ounces
Newmont remains Africa’s largest gold producer, driven by strong output from its Ahafo and Akyem mines. Ahafo North, one of Africa’s largest ongoing gold developments, is set to elevate Ghana’s overall production leadership.
2. AngloGold Ashanti (South Africa) — 3.8 million ounces
AngloGold maintains consistent performance across its African portfolio. Optimizations at Geita and Iduapriem continue to bolster output, while restructuring in South Africa aims to secure long-term operational stability.
3. Barrick Gold (Mali) — 1.6 million ounces
Barrick’s Loulo-Gounkoto complex remains Mali’s most reliable gold system. The company is extending mine life through community investments, resource expansion, and renewable-energy integration.
4. Gold Fields (Ghana) — 1.4 million ounces
Gold Fields’ Tarkwa and Damang mines remain pillars of Ghana’s gold production. Strong grades, disciplined capex and steady operational performance support the company’s long-term output.
5. Harmony Gold (South Africa) — 1.5 million ounces (target)
Harmony is targeting 1.5 million ounces as it ramps up production from flagship assets like Mponeng. Its expansion into copper provides future revenue optionality.
6. IAMGOLD (Burkina Faso) — 1.1 million ounces
Essakane remains Burkina Faso’s largest gold operation. Despite regional instability, IAMGOLD delivers stable output through efficiency programs and resource upgrades.
7. Endeavour Mining (Côte d’Ivoire) — 0.9 million ounces
Endeavour’s West African footprint continues to expand, supported by brownfield exploration and one of the region’s strongest balance sheets.
8. Perseus Mining (Ghana/Côte d’Ivoire) — 0.7 million ounces
Perseus continues scaling through its Edikan, Sissingué and Yaouré mines, supported by healthy cash margins and ongoing resource expansion.
9. Caledonia Mining Corporation (Zimbabwe) — 0.5 million ounces
Caledonia’s Blanket Mine is Zimbabwe’s most productive gold asset, strengthened by underground expansions and operational efficiency.
10. Resolute Mining (Mali) — 0.4 million ounces
Syama remains Resolute’s anchor asset. Upgrades in processing and cost control support long-term output stability.
