Ghana Natural Resources Explained 2026
Ghana resources explained: Africa's top gold output, the Gold Board, Jubilee oil, cocoa prices, Ewoyaa lithium, who profits and what galamsey costs. The post Ghana Natural Resources Explained 2026 appeared first on The Rio Times .
Ghana's economy relies heavily on natural resources such as gold, cocoa, and offshore oil. In 2025, gold brought in approximately US$21.0 billion, making up two-thirds of all export earnings. Cocoa contributed US$4.0 billion, and crude oil added US$2.6 billion, accounting for the remaining share of exports. As of August 2026, gold exports were valued at US$14.9 billion, or roughly 66% of the total January-August export value of US$22.4 billion.
Ghana is Africa's largest gold producer, with an estimated 1,000 tonnes of reserves, according to the US Geological Survey. Large-scale mining firms, including Newmont, Gold Fields, and AngloGold Ashanti, dominate gold production. Newmont, a New York-listed company, produced 664,000 ounces at Ahafo South and 70,000 ounces at Ahafo North in 2025.
Gold Fields produced 474,500 ounces at Tarkwa, while AngloGold Ashanti yielded 266,000 ounces at Obuasi and 199,000 at Iduapriem. Ghanaian firm Engineers and Planners took over the former Damang mine in April 2026. Small-scale gold mining must now be sold through the Ghana Gold Board, which aims to export at least 3 tonnes of gold weekly.
GoldBod, the board's sole authority, generated US$1.871 billion in foreign exchange in October 2026, exceeding its September target of US$1.4 billion. Offshore oil production, primarily from the Jubilee field in the Tano Basin, has been ongoing since late 2010. Jubilee produced 22.21 million barrels in 2025, while the TEN fields and Sankofa-Gye Nyame contributed 5.83 million and 9.26 million barrels, respectively.
Ghana's offshore oil reserves are held by Tullow Oil, Kosmos Energy, and Ghana National Petroleum Corporation.
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