Ghana out-racing South Africa to lead in gold production was as a result of congenial policies, low cost of mining and operations and new expansion works based on findings. South Africa has deteriorating production in gold partly due to high cost of mines, regular strikes actions, and geological challenges of tapping the world’s cheapest mines. Ghana additionally, produces very rich and qualitative gold than South Africa.
Additionally, AngloGold Ashanti Ltd. and Gold Fields Ltd. are not soo much interested in mining in South Africa, but targeting and operating in countries where cost of mine is cheaper like Ghana which inevitably means more production of gold in Ghana. Further, Obuasi mine which is expected to assume production in earnest at the dying embers of this year,2019 will go a long way to boost gold production in Ghana at the expense of South Africa’s . In fact, due to high cost of gold production in South Africa companies like Sibanye Gold Ltd has laid off thousands of workers.
Finally, according to figures from the Ghana Chamber of Mines and the Minerals Council of South Africa reports, Ghana produced 4.8 million ounces of gold in 2018 and South Africa’s was 4.2 million ounces. Ghana’s success in gold production is inevitably tied to huge production of small scale miners.