Largest Gold Mines in West Africa in Q2 2020

Gold mining industry in West Africa showed resilience during Q2 2020 despite Covid-19 impact and other negative factors. Loulo-Gounkoto was the largest gold mine in West Africa.

Recent gold production numbers show that gold mining sector in South Africa keeps struggling, whereas West Africa’s gold mining industry, led by Ghana, Mali and Burkina Faso, already produces more than twice as much gold as South Africa and quickly becoming the world-class gold mining hub.

The following is the brief overview of the local gold industry and review of the top 10 largest gold mines in West Africa in Q2 2020 prepared by Mines and Metals on the basis of publicly released corporate reports.

In Q2 2020, West Africa produced 2.02 Moz of gold, which was slightly less than Q2 2019 numbers (2.09 Moz).

Ghana was the biggest gold producer in the region (689 koz), followed by Burkina Faso (445 koz) and Mali (425 koz).

Despite Covid-19 impact and other negative factors, local gold mining industry showed resilience with significant upscale potential.

Gold production in West Africa in Q2 2020 vs. Q2 2019, koz. Source: Mines and Metals.

Top 10 largest gold mines in West Africa produced 1,052 koz of gold in Q2 2020, or 4% less than in Q2 2019 (1,098 koz).

Four mines increased their gold output (Fekola, Tarkwa, Tongon, Asanko) and six faced a decline (Loulo, Ahafo, Essakane, Akyem, Tasiast, Iduapriem).

The complete list is below.

Largest gold mines in West Africa: Top 10 in Q2 2020. Source: Mines and Metals.

MineCountryMajor owner / operatorQ2 2020 Au production, kozQ2 2019 Au production, koz% change
1Loulo GounkotoMaliBarrick176184-4
2FekolaMaliB2Gold14711330
3TarkwaGhanaGold Fields1451348
4AhafoGhanaNewmont101159-36
5EssakaneBurkina FasoIAMGOLD9397-4
6AkyemGhanaNewmont92118-22
7TasiastMauritaniaKinross8992-3
8TongonIvory CoastBarrick71684
9AsankoGhanaGold Fields / Asanko696211
10IduapriemGhanaAngloGold Ashanti6971-3
Total1,0521,098-4

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