Egypt among top gold production countries in Africa

Five African countries emerged in new gold discoveries during 2022, including Uganda, Guinea, Egypt, Ghana, and Morocco, according to the “Energy Capital & Power” platform.

The West African region is one of the most prominent gold-producing sub-regions in recent years, as it included three states among the top five gold-manufacturing countries in 2022.

Meanwhile, the African continent represents about 27.4% of the total global production of gold, amounting to nearly three thousand tons annually.

A number of African countries began to significantly increase gold exploration and production during 2023 to enhance their economic situation, which suffers from inflation and the accumulated debt crisis.

Gold production worldwide went up by about 2.2% to 3,660 tons in 2022, according to some estimates. This came at a time when Africa includes world-famous gold mines, including the “LOULO” mine in Mali and “Lihir” in New Guinea and “Lihir” in New Guinea.

Several countries around the globe tend to resort to gold as a safe haven during economic crises. Hence, international foreign nations focus on strengthening their companies with African countries for more new discoveries of gold mines.