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

Collective gold production in Ghana, Burkina Faso, Mali, and the Republic of Guinea is estimated to be 10.8 million ounces (moz) in 2023. Ghana is the largest producer of gold in Africa and a key exporter globally, mainly supported by increased output from the Bibiani mine.

Going forward, gold production is expected to decline by a CAGR of more than 2% during 2024-2030 due to schedule closures occurring mainly in Ghana. Additionally, political instability and unregulated illegal mining are some of the key barriers that are expected to impair West Africa’s gold production in the coming years. Other West African countries, including Ivory Coast, Senegal, and Sierra Leone are working to develop their gold mining industries by encouraging foreign investment.

The West Africa Gold Mining market research report provides comprehensive coverage of the West African gold industry including historical and forecast data on gold production by country, production by company, reserves by country, and global gold prices. The report also includes a demand drivers section providing information on factors that are affecting the gold mining industry. It further profiles major gold producers and information on the major active, planned, and exploration project.

Forecast Period 2024-2030
Historical Period 2019-2022
Key Countries ·       Ghana

·       Burkina Faso

·       Mali

·       The Republic of Guinea

Active Mines ·       Loulo-Gounkoto Mine

·       Ahafo Mine

·       Fekola Mine

·       Tarkwa Mine

·       Essakane Gold Mine

·       Akyem Project

·       Siguiri Mine

·       Hounde Mine

·       Gounkoto Mine

·       Obuasi Gold Mine

Leading Companies ·       Allied Gold

·       AngloGold Ashanti

·       B2G Gold

·       Barrick Gold

·       Endeavour Mining

·       Gold Fields

·       Iamgold

·       Newmont

·       Nord Gold

·       Perseus Mining

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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 (%)

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 (%)

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

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

  • Overview of the West Africa gold mining industry
  • Key demand driving factors
  • Historical and forecast data on gold production, production by company and reserves by country
  • World gold prices
  • Profiles of major gold producers
  • Competitive landscape
  • Major operating, explorational and developmental mines

Reasons to Buy

  • In-depth Insights: Gain comprehensive industry insights into the West Africa gold mining market and understand the key market drivers influencing production trends, reserves and market dynamics.
  • Strategic market analysis: Access historical and forecast trends on West Africa gold production to anticipate market shifts and make forward-looking decisions.
  • Forge valuable partnerships: Identify the leading companies in the West Africa gold mining market, including information on their sectors of operation, headquarters location, production capacity and owned gold mines.
  • Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental projects.

Endeavour Mining Corp
Newmont Corp.
Gold Fields Ltd
AngloGold Ashanti Ltd
Barrick Gold
B2G gold

Table of Contents

  • 1. Overview
  • 2. Gold Reserves
  • 3. Gold Production
  • 4. Production by Country
  • 5. Gold Price
  • 6. Major Active Mines
  • 7. Major Development Projects
  • 8. Major Exploration Projects
  • 9. Competitive Landscape
  • 10. Demand
  • 11. Taxes and royalties – Ghana
  • 12. Taxes and royalties – Burkina Faso
  • 13. Taxes and royalties – Mali
  • 14. Appendix
  • 15. Abbreviations
  • 16. Likelihood

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

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