Despite decades of declining output, South Africa remains a major gold producer. While other leading African producers show year-to-year volatility, the Rainbow Nation has maintained relative stability—and is even showing signs of growth.

West Wits Mining has announced the sale of its Australian asset, Mt Cecelia, to focus resources on its Qala Shallows project in South Africa's Witwatersrand Basin. The move runs counter to the strategy of some of the continent's major players: AngloGold Ashanti has operated no mines in South Africa since 2020, while Gold Fields has reduced its in-country presence to a single asset.

Qala Shallows, the first underground gold mine announced in South Africa in more than 15 years, has come to symbolize the resilience of a sector that still has room to run. South Africa produced approximately 88.5 tonnes of gold in 2025, a 1.9% decline from the previous year, according to the Minerals Council. That figure stands in stark contrast to the 605 tonnes recorded in 1990, and even further from the peak of roughly 1,000 tonnes reached in 1970.

The decline reflects structural factors, including the increasing depth of deposits, difficulties in the power sector, and rising energy costs.

Several projects nonetheless signal renewed interest in the country. At Qala Shallows, initial production of 70,000 ounces per year is expected before scaling up to 200,000 ounces. Theta Gold Mines plans to bring its TGME mine online by early 2027, with a capacity of 160,000 ounces per year over the first five years. Sibanye-Stillwater is considering a final investment decision on its Burnstone project by mid-2026. The project, suspended in 2021, is expected to produce approximately 140,000 ounces per year over 25 years.

Top Producers on Diverging Paths

Ghana, which has held the top spot on the continent since 2018, saw its gold output reach 6 million ounces in 2025, according to the country's Chamber of Mines as cited by Reuters, up from 4.8 million ounces in 2024. That performance was driven largely by growth in the artisanal segment, whose contribution jumped from 1.9 million to 3.1 million ounces after sweeping sector reforms, while industrial mines held steady at 2.9 million ounces.

Accra is targeting 6.5 million ounces in 2026, supported in part by Newmont's Ahafo North entering its first full year of production, with an annual capacity of 275,000 ounces. Burkina Faso, meanwhile, announced output exceeding 94 tonnes in 2025, a jump of more than 30 tonnes over its officially declared 2024 production. The record was driven primarily by a surge in artisanal mining, whose contribution reached an unprecedented 42 tonnes.

Mali, by contrast, took a markedly different path. Ranked Africa's second-largest producer in 2024 with 100 tonnes according to the World Gold Council, Mali saw its industrial production fall 22.9% to 42.2 tonnes in 2025. The decline is attributed primarily to the standoff between the government and Barrick Mining over the Loulo-Gounkoto complex, the country's largest gold mine. An agreement between the two parties reached in late November 2025 allowed operations to resume this year.

Côte d'Ivoire, ranked the continent's seventh-largest producer with 58 tonnes in 2024 according to the World Gold Council, has recorded uninterrupted growth for a decade. The West African country is relying on several mines under construction, including Koné, expected to enter production by 2027 with a capacity of up to 349,000 ounces per year, to eventually break into the top tier. By 2030, Abidjan is targeting output that would surpass South Africa's recent production levels, in the range of 100 tonnes.

Sudan's situation is the most precarious. Africa's fifth-largest producer in 2024 with 73.8 tonnes according to the World Gold Council, the country has been torn by civil war since April 2023. It produced approximately 70 tonnes in 2025, according to Finance Minister Gibril Ibrahim, but a significant share of volumes continues to move through smuggling networks.

The True Measure of Performance

Behind the production figures, each country carries its own vulnerabilities. In Ghana, a proposed reform of mining royalties that would raise the maximum rate to 12% from the current 3% to 5% could weigh on projects, according to Ghana Chamber of Mines President Kenneth Ashigbey. The change could potentially affect the expected contribution of new mines.

In Côte d'Ivoire, the growth trajectory will also depend on better regulation of the artisanal sector, whose undeclared production is estimated at between 30 and 40 tonnes per year by NGO SWISSAID. In Burkina Faso, sustaining the record pace of 2025 will hinge on continued formalization of artisanal mining and the country's ability to attract investors. The resource nationalism that prevails there has already prompted some companies to look to other jurisdictions.

In Mali, the agreement with Barrick has yet to translate into full-year production volumes for 2026. In Sudan, any normalization of output depends first on an end to the conflict. For South Africa, whose production has hovered near a stable floor for several years, compared with these more volatile trends, its position is ultimately less unfavorable than it might appear.

Across all these countries, however, the key question remains: to what extent does the gold extracted each year genuinely benefit local populations and contribute to the continent's economic development? That measure, more than any production ranking, will determine the true success of Africa's gold industry.

Emiliano Tossou