The Ghana Chamber of Mines has reported that the mining sector contributed GHS17.7 billion to the government in 2024, accounting for 24.3% of direct domestic tax revenues.
The sector maintained its position as the largest contributor to tax income from economic activities in the country and Ghana’s top foreign exchange earner, generating $11.9 billion in export revenue.
According to the Chamber, “these figures show that the mining industry was responsible for 58.4% of Ghana’s gross merchandise export earnings in the year under review.”
The report highlights that $4.9 billion, representing 70.8% of mineral revenue generated by the Chamber’s producing members, was repatriated to Ghana through the Bank of Ghana and commercial banks.
These inflows, the Chamber notes, “helped stabilize the local currency and support liquidity in the financial sector.”
Additionally, the Chamber’s members sold 358,218 ounces of gold to the Bank of Ghana under its Domestic Gold Purchase Programme (DGPP), reinforcing the Bank’s reserve position and supporting the relative stability of the Ghanaian Cedi.
In terms of local spending, the mining sector invested $5.5 billion on goods, services, fiscal obligations, and socio-economic initiatives.
The Chamber emphasized its commitment to promoting transparency, accountability, and inclusive development through mining, stating that “the data underscores the sector’s pivotal role in driving economic growth and social progress across Ghana.”
The Ghana Chamber of Mines reiterated its commitment to local content development and using mining as a vehicle for long-term national transformation.
