Ghana’s crown as Africa’s leading gold producer keeps drawing investors who seek opportunities as bullion prices remain elevated.
Local operator GoldStone Resources Ltd (LON: GRL) (FRA: GVL1) saw its shares rise sharply on the London Stock Exchange Monday after the company secured a strategic investment from Persistence Gold Group Ltd (HKG: 2489). The Hong Kong-listed miner injected around US$4.6 million and secured a 21 per cent stake. GoldStone’s share price climbed about 40 per cent at the intraday peak in response.
The funding equips GoldStone to step up drilling and advance development work. GoldStone focuses on gold projects along Ghana’s Ashanti Gold Belt. Its main assets include the operating Homase open-pit mine, which uses heap leach processing on oxide ore; and the historic Akrokeri operation — a past-producing underground site the company has revival plans for.
Homase sits near the giant Obuasi mine, operated by global mining giant Anglogold Ashanti PLC (NYSE: AU) (FRA: HT3). Obuasi ranks among the world’s most notable gold deposits, with a long history of underground mining that has produced tens of millions of ounces over decades.
Homase is estimated to contain approximately 602,000 ounces at 1.77 grams per tonne gold, with oxide material that is easy to mine. GoldStone also maintains a broader licence portfolio with exploration value.
Persistence Gold Group, controlled in part by China’s Majestic Gold Corp (CVE: MJS) (OTCMKTS: MJGCF) (FRA: MJT), brings operational experience from its mines in Shandong Province. The partnership supplies funding and know-how as GoldStone works toward resource expansion and feasibility studies.
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Ghana gold production hits new highs
The country produced a record 6 million ounces of gold in 2025, with large-scale operations contributing about 2.9 million ounces and artisanal and small-scale mining supplying the rest. A rapid increase in artisanal mining driven by precious metal pricing was the main catalyst.
The sector attracts over half of foreign direct investment for the nation and generates more than one-third of export revenues while remaining the largest tax contributor.
Gold accounts for roughly 95 per cent of mineral revenue. Other minerals Ghana produces considerable quantities of include manganese, bauxite, lithium and graphite.
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