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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GlobalData's "West Africa Gold Mining to 2030" provides a comprehensive coverage on the West Africa Gold industry in 22024. It provides historical and forecast data on gold production, production by company, production by country, reserves by country and world gold prices. The report also includes a demand drivers section providing information on factors that are affecting the global gold industry. It further profiles major gold producers, information on the major active, planned and exploration projects by region.
Collective gold production in Ghana, Mali, Republic of Guinea and Burkina Faso decreased by an estimated -0.3% in 2023, but is projected to grow by 2.6% to 11.83 million ounces (moz) in 2024. Ghana will be the largest contributor towards this growth, followed by the Republic of Guinea. Collective output from these two countries is forecast to increase from 6.7moz in 2023 to 7.3moz in 2024 – an 8.4% increase. In contrast, output from Mali and Burkina Faso is expected to decline by a collective 5.5% to 4.56moz in 2024. Meanwhile, gold production from Ivory Coast, Niger, Liberia, Senegal, and Sierra Leone, all emerging markets, is expected to grow by 6.2% to 4.67moz in 2024, after an estimated 0.9% growth in 2023.
Looking ahead, gold production from the four major markets over the forecast period (2025-2030), is expected to decline at a CAGR of -1.5% to nearly 12.0moz, linked to schedules closures, mainly in Burkina Faso. In contract, production from the emerging markets is expected to increase at a CAGR of 3.1% to 5.65moz with key contributions from Ivory Coast and Niger. Overall, political instability and unregulated illegal mining are some of the key barriers that are expected to impair West Africa’s gold mining in the coming years.
West Africa Gold Mining Market Segmentation by Country
Some of the key countries in the West Africa gold mining market are Ghana, Burkina Faso, Mali, and the Republic of Guinea. Ghana is the largest contributor towards the growth of gold production in 2023 alongside support from Burkina Faso and the Republic of Guinea. Ghana’s gold output will be mainly supported by increased output from the Bibiani mine.
West Africa Gold Mining Market Analysis by Countries, 2023 (%)
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West Africa Gold Mining Market - Active Mines
Some of the active gold mines in West Africa are Loulo-Gounkoto Mine, Ahafo Mine, Fekola Mine, Tarkwa Mine, Essakane Gold Mine, Akyem Project, Siguiri Mine, Hounde Mine, Gounkoto Mine, and Obuasi Gold Mine. Loulo-Gounkoto Mine had the highest gold production in 2022.
West Africa Gold Mining Market Analysis by Active Mine Production, 2022 (%)
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West Africa Gold Mining Market - Competitive Landscape
Some of the leading companies associated with the West Africa gold mining market are Allied Gold, AngloGold Ashanti, B2G Gold, Barrick Gold, Endeavour Mining, Gold Fields, Iamgold, Newmont, Nord Gold, and Perseus Mining.
Endeavour Mining Plc (Endeavour) is an intermediate gold mining company that focuses on developing and operating low-cost and long-life mines in West Africa. The company’s gold-producing properties include the Ity mine in Ivory Coast and Hounde, Mana, and Boungou mines in Burkina Faso. The company also has various greenfield exploration properties in Cote d’Ivoire, Mali, Burkina Faso, Niger, and Guinea at different stages of exploration. Endeavour is headquartered in London, Greater London, the UK.
Leading West Africa Gold Mining Companies
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Segments Covered in the Report
West Africa Gold Mining Market Countries Outlook (Value, MOZ, 2019-2030)
- Ghana
- Burkina Faso
- Mali
- The Republic of Guinea
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
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Frequently asked questions
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Which country has made the largest contribution towards the gold production market in 2023?
Ghana is the largest contributor towards the growth of gold production in 2023.
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Which active mine made the largest contribution towards the gold production market in 2022?
Loulo-Gounkoto Mine had the highest gold production in 2022.
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What are the key active mines in the West Africa gold mining market?
Some of the active gold mines in West Africa are Loulo-Gounkoto Mine, Ahafo Mine, Fekola Mine, Tarkwa Mine, Essakane Gold Mine, Akyem Project, Siguiri Mine, Hounde Mine, Gounkoto Mine, and Obuasi Gold Mine.
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Who are the leading companies in the West Africa gold mining market?
Some of the leading companies associated with the West Africa gold mining market are Allied Gold, AngloGold Ashanti, B2G Gold, Barrick Gold, Endeavour Mining, Gold Fields, Iamgold, Newmont, Nord Gold, and Perseus Mining
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