Top 5 largest gold producing countries in Africa 2026

Gold prices surged beyond $5,000 per ounce for the first time on Monday, extending a historic rally driven by escalating geopolitical tensions, uncertainty around global monetary policy, and renewed demand for safe-haven assets: a surge with major implications for gold-producing countries in Africa.

The price milestone is expected to generate significant windfall gains for gold-producing economies, particularly across Africa, where bullion remains a vital export commodity and a major source of foreign exchange earnings.

Gold has long been woven into Africa’s economic and political history. From the ancient West African empires that dominated trans-Saharan trade routes to today’s industrial mining operations feeding global markets, the metal has shaped wealth creation, diplomacy, and the continent’s standing in the world economy.

In the modern era, gold exports generate billions of dollars annually, underpin national currencies, and strengthen foreign reserves in several African countries.

Below are Africa’s 10 largest gold-producing countries, ranked by output using World Gold Council 2024 data.

1. Ghana — 140.0 tonnes

Ghana remains Africa’s largest gold producer, a position rooted in centuries of mining history. Formerly known as the Gold Coast, the country has been extracting gold since the 15th century.

Today, gold accounts for roughly 40 percent of Ghana’s total export earnings, reinforcing its central role in the economy. Elevated global prices have helped support the cedi in recent years, highlighting gold’s importance as a macroeconomic stabiliser. Production is dominated by large-scale industrial mines, complemented by a substantial artisanal mining sector.

2. Mali — 100.0 tonnes

Mali’s gold industry traces its origins to the ancient Mali Empire, once a powerhouse of trans-Saharan gold trade. In the present-day economy, gold remains the country’s single most important export.

Seeking to capture greater value from rising global prices, the government introduced a new mining code in 2023, aimed at increasing state revenues from foreign-owned mining operations.

3. South Africa — 98.1 tonnes

Once the world’s largest gold producer, South Africa’s output has declined significantly from peaks of more than 600 tonnes in the early 1990s. Despite this, the country remains a major player in the global gold market.

Its mines are among the deepest and most labour-intensive in the world, and the industry was foundational to the growth of Johannesburg — famously known as eGoli, the City of Gold.

4. Burkina Faso — 94.4 tonnes

Over the past two decades, Burkina Faso has emerged as a significant gold producer, supported by new discoveries and foreign investment. Gold now forms the backbone of the country’s export economy.

However, the sector faces persistent challenges, including security risks, illegal mining, and political instability, which continue to weigh on production and investor confidence.

5. Sudan — 73.8 tonnes

Gold has become Sudan’s most important source of foreign exchange, particularly after the loss of oil revenues following South Sudan’s secession.

Much of the country’s output comes from artisanal and small-scale miners, providing livelihoods for local communities but also creating regulatory, environmental, and smuggling challenges for authorities.

Vanguard News

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