Gold Board bought up to 54 metric tons of gold from artisanal and small-scale mining (ASM) in the first half of 2026, and the sector's output is on track to match or surpass last year's record, the state entity's CEO said on Tuesday.

The figures and prediction point to ​another strong year for Ghana's biggest export and foreign exchange earner, helping ​underpin dollar inflows and support an economy emerging from its worst financial crisis in decades.

Africa's largest gold producer has seen ASM output surge following sector reforms aimed at stemming smuggling losses and boosting foreign exchange earnings. Production reached a record ​104 metric tons last year, overtaking large-scale mining output for the first time.

"We are ‌around ⁠50-54 metric tons this year (in purchases)," Gold Board (GoldBod) CEO Samuel Gyamfi told reporters. "At this rate, we are likely to match or even surpass last year's output."

Gyamfi said the board generated nearly $11 billion in foreign exchange earnings ​from the ASM ​sector last year, ⁠while large-scale miners contributed about $9 billion.

However, the recent decline in gold prices had reduced earnings expectations, he said. GoldBod ​had based its 2026 forecasts on an average gold ​price ⁠of about $5,000 per ounce and weekly purchases of around 2.5 metric tons, he said.

Despite the lower prices, Ghana was still on course to generate higher ⁠gold ​export earnings than last year, Gyamfi said, ​as average bullion prices remain above 2025 levels, though below GoldBod's initial projections.