West Africa Gold Mining Market by Reserves and Production, Assets and Projects, Fiscal Regime with Taxes, Royalties and Forecast to 2030

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West Africa Gold Mining Market Report Overview

West African gold production is estimated to be 11.83 million ounces (moz) in 2024. The region has emerged as a key gold mining hub with major contributions from Ghana, Burkina Faso, the Republic of Guinea, and Mali. Looking ahead, gold production from these major markets is expected to decline at a CAGR of more than 1% over the forecast period (2025-2030) owing to political instability and unregulated illegal mining.

However, other West African countries, such as Ivory Coast, Niger, Liberia, Senegal, and Sierra Leone are working to develop their gold mining industries by encouraging foreign investment and increasing their supplies through the forecast period.

West Africa Gold Mining Market Outlook, 2024-2030 (Million Ounces)

West Africa Gold Mining Market Outlook, 2024-2030 (Million Ounces)

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The West Africa gold mining market research report provides a comprehensive coverage of the West Africa gold industry in 2024. The report provides historical and forecast data on gold production, production by company, production by country, reserves by country and world gold prices. Furthermore, the report includes a demand drivers section providing information on factors that are affecting the global gold industry. It further profiles major gold producers, and information on the major active, planned and exploration projects by region. These critical topics will help identify gaps in operations and make high-impact business strategies.

Market Size (2024) 11.83 million ounces (moz)
CAGR (2025-2030) <(1)%
Forecast Period 2025-2030
Active Mines ·       Loulo-Gounkoto Mine

·       Fekola Mine

·       Ahafo Mine

·       Tarkwa Mine

·       Essakane Gold Mine

Development Projects ·       Namdini Project

·       Ahafo North Project

·       Bankan Gold Project

·       Syama Phase 2 Expansion Project

·       Kiaka Project

Exploration Projects ·       Ferensola Iron Project

·       Gaoua Copper Gold Project

·       ABC Gold Project

·       Sanutura Project

·       Bantou Project

Leading Companies ·       Endeavour Mining Corp

·       Newmont Corp

·       Gold Fields Limited

·       Barrick Gold

·       AngloGold Ashanti Ltd

·       B2 Gold

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West Africa Gold Mining Market – Active Mines

A few of the active mines in the West African gold mining market are Loulo-Gounkoto Mine, Fekola Mine, Ahafo Mine, Tarkwa Mine, and Essakane Gold Mine among others. In 2024, Loulo-Gounkoto Mine has the highest gold production in West Africa.

West Africa Gold Mining Market Analysis by Active Mines, 2024 (%)

West Africa Gold Mining Market Analysis by Active Mines, 2024 (%)

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West Africa Gold Mining Market - Development Projects

A few of the upcoming gold mining projects in West Africa are the Namdini Project, Ahafo North Project, Bankan Gold Project, Syama Phase 2 Expansion Project, and Kiaka Project among others. On completion, the Namdini Project will have the highest gold production capacity in West Africa.

West Africa Gold Mining Market Analysis by Development Projects, 2024 (%)

West Africa Gold Mining Market Analysis by Development Projects, 2024 (%)

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West Africa Gold Mining Market - Exploration Projects

A few of the exploration projects in the West Africa gold mining market are the Ferensola Iron Project, Gaoua Copper Gold Project, ABC Gold Project, Sanutura Project, and Bantou Project among others. As of 2024, the Ferensola Iron Project, owned by Power Metal Resources Plc has the highest capacity.

West Africa Gold Mining Market Analysis by Exploration Projects, 2024 (%)

West Africa Gold Mining Market Analysis by Exploration Projects, 2024 (%)

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West Africa Gold Mining Market - Competitive Landscape

A few of the leading mining companies in the West Africa gold mining market are:

  • Endeavour Mining Corp
  • Newmont Corp
  • Gold Fields Limited
  • Barrick Gold
  • AngloGold Ashanti Ltd
  • B2 Gold

In 2024, Endeavour Mining Corp accounted for the highest share of the West Africa gold mining market. Headquartered in London, England, Endeavour Mining Plc is one of the largest mining companies in West Africa, with a presence in Burkina Faso, Senegal, Ivory Coast and Mali. The company is investing in on-site solar power to reduce its carbon emissions at its Sabodala-Massawa mine.

West Africa Gold Mining Market Analysis by Companies, 2023 (%)

West Africa Gold Mining Market Analysis by Companies, 2023 (%)

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Scope

  • The report contains an overview of the West Africa (Ghana, Mali, Burkina Faso, Republic of Guinea, Ivory Coast, Niger, Liberia, Senegal and Sierra Leone) gold mining industry including key demand driving factors affecting the West Africa gold mining industry.
  • It provides detailed information on reserves, reserves by country, production, competitive landscape, major operating mines, major exploration, and development projects.

Reasons to Buy

  • To gain an understanding of the West Africa gold mining industry, relevant driving factors.
  • To understand historical and forecast trend on West Africa (Ghana, Mali, Burkina Faso, Republic of Guinea, Ivory Coast, Niger, Liberia, Senegal and Sierra Leone) gold production.
  • To identify key players in the West Africa gold mining industry.
  • To identify major active, exploration and development projects by region.
  • To identify taxes and royalties in Ghana, Burkina Faso and Mali.

AngloGold Ashanti Ltd
Endeavour Mining Corp
Newmont Corp
Gold Fields Limited
Barrick Gold
B2 Gold

Table of Contents

Overview

Gold reserves

West Africa gold production

Gold prices

Major active mines

Major development projects

Major exploration projects

Demand

Competitive landscape

Taxes and royalties – Ghana

Taxes and royalties – Burkina Faso

Taxes and royalties – Mali

Appendix

Table

Table 1: Top active mines in Ghana by metal reserves (million ounces)

Table 2: Top active mines in Burkina Faso by metal reserves (million ounces)

Table 3: Top active mines in Mali by metal reserves (million ounces)

Table 4: Historical and forecast gold production by top three countries in West Africa (thousand ounces), 2006–2026

Table 5: Gold production in Ghana (thousand ounces), 2006–2026

Table 6: Gold production in Burkina Faso (thousand ounces), 2006–2026

Table 7: Gold production in Mali (thousand ounces), 2006–2026

Table 8: West Africa gold production by major company (thousand ounces), 2018–2021

Table 9: Gold prices quarterly (US$/ounce) 2015–2021

Table 10: Active Mines, 2022

Table 11: Development Projects, 2022

Table 12: Exploration Projects, 2022

Table 13: Historical and forecast gold mine consumption (million ounces), 2006–2026

Table 14: Gold demand by end use (million ounces), 2010–2021

Table 15: Number of Operating, Development and Exploration Projects by Company, 2022

Table 16: AngloGold Ashanti Ltd, major projects, 2022

Table 17: Newmont Corp., major projects, 2022

Table 18: Gold Fields Limited, major projects, 2022

Table 19: Likelihood: High

Table 20: Likelihood: Medium

Table 21: Likelihood: Low

Figures

Figure 1: Historic and forecast gold production by top three countries in West Africa (thousand ounces), 2006–2026

Figure 2: Gold production in Ghana (thousand ounces), 2006–2026

Figure 3: Gold production in Burkina Faso (thousand ounces), 2006–2026

Figure 4: Gold production in Mali (thousand ounces), 2006–2026

Figure 5: Gold production by major company (thousand ounces), 2020-2021

Figure 6: World gold prices, quarterly (US$/oz), 2015–2021

Figure 7: Gold mine count by country and stage, 2022

Figure 8: Historical and forecast gold consumption (million ounces), 2006–2026

Figure 9: Global gold demand by end use (%), 2020 and 2021

Figure 10: Gold demand by end use (million ounces), 2010–2021

Figure 11: Number of Operating, Development and Exploration Projects by Company, 2022

Frequently asked questions

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