The Ghana Chamber of Mines has announced that its producing member companies injected over US$5.5 billion into the Ghanaian economy in 2024 through procurement, social investment, and fiscal payments. This massive expenditure underscores the mining sector’s critical role in supporting national development, job creation, and economic stability.

According to the Chamber, a significant portion of this amount—US$3.5 billion—was spent on procuring goods and services, while US$28 million went into corporate social investments aimed at improving livelihoods in mining communities. Additionally, the industry recorded major capital expenditure of US$973 million, imported consumables worth US$241 million, and amortized loans and interest payments totaling US$111.3 million.

In a move that contributed to the Bank of Ghana’s efforts to shore up its foreign reserves and stabilize the local currency, producing member companies sold 358,218 ounces of gold to the central bank under the Domestic Gold Purchase Programme (DGPP). The Chamber described this initiative as a clear demonstration of its commitment to macroeconomic stability and national interest.

Employment figures from the report further highlight the industry’s strong local participation, with a total of 11,372 people in direct employment—11,303 of whom are Ghanaians, representing over 99% of the workforce. Expatriates accounted for just 0.6%, with 69 individuals in direct employment. In total, mining companies paid US$615 million in compensation to their employees.

The sector’s contribution to national revenue was equally significant, with overG ₵10.3 billion paid in corporate tax alone.

The Chamber noted that these numbers reinforce the mining industry’s position as a strategic partner in Ghana’s development agenda, not just as a revenue generator, but also as a reliable driver of socio-economic transformation.