Top 5 Gold Mines in Africa
African Gold Mines Ranking
Africa accounts for 25% of the global gold output, and its largest #gold refinery is Rand Refinery, located in Germiston, Johannesburg, South Africa. The top-producing countries include Ghana, Mali, Burkina Faso, DR Congo, Mauritania, South Africa, Sudan, and Tanzania. Ghana was formerly known as the Gold Coast, while Mali is famous since antiquity for its gold mines, and its King was once considered the richest man in Africa. The top gold mines in Africa are as follows:
| Country | Gold Mine | Owner | 2024 Output Troy Ounces |
|---|---|---|---|
| Ghana | Ahafo | Newmont | 798,000 |
| Mali | Loulo-Gounkoto | Barrick | 723,000 |
| DR Congo | Kibali | Barrick & AngloGold | 686,000 |
| Mauritania | Tasiast | Kinross | 622,000 |
| Ghana | Tarkwa | Newmont | 537,000 |
Ghana Ahafo
Based on the annual report published by Newmont, its Ahafo mine produced 798,000 ounces of gold in 2024. Newmont is an American firm and is ranked as the top gold producer in the world.
The Government of Ghana holds a 10% share in the Ahafo gold mine. Annual production is expected to reach 900,000 ounces in 2025.
Mali Loulo-Gounkoto
Barrick has reported that production at its Mali Loulo-Gounkoto gold mine has reached 723,000 ounces in 2024, putting it in 2nd place behind Newmont’s Ahafo mine in Ghana.
DR Congo Kibali
Kibali gold mine used to be number one in Africa for many years. However, production in 2024 slipped by 10%, pulling Kibali mine down to 3rd position. It started as an open pit mine, but extraction has moved to underground mining as well.
Mauritania Tasiast
Tasiast reported 622,000 ounces of 2024, compared to 621,000 in 2023. In 2025, Kinross plans to output only 500,000 ounces.
Ghana Tarkwa
Newmont reported a production of 537,000 ounces in 2024, representing a 3% drop compared to 2023. The slight decrease is attributable to lower gold content in the mineral.
World’s Largest Gold Mines
On a global scale, US boasts the largest gold mine in Nevada with an annual production of 3.3 million ounces. The mine is a JV between Newmont and Barrick. In 2nd position is the Kyzhylkum gold mine in Uzbekistan with 2.5 million ounces. Then, Indonesia’s Grasberg mine in Papua comes 3rd with 1.5 million ounces. Russia claims a top spot with the Olimpiada mine at 1.4 million ounces. In 5th position, we have the Pueblo Viejo mine in the Dominican Republic with 900,000 ounces.
Gold Bullion Reserves
Many advanced and large economies store substantial amounts of gold in the form of gold bars called bullion. The USA has the most gold with 8,134 tonnes, and more than half is kept at the Fort Knox vault. Despite being a major gold-producing region, no African country is among the top ten gold holders.
| Rank | Country | Gold Reserves Metric Tonnes |
|---|---|---|
| 1 | USA | 8,134 |
| 2 | Germany | 3,355 |
| 3 | Italy | 2,452 |
| 4 | France | 2,437 |
| 5 | Russia | 2,333 |
| 6 | China | 2,114 |
| 7 | Switzerland | 1,040 |
| 8 | Japan | 846 |
| 9 | India | 795 |
| 10 | Netherlands | 613 |