Ghana is the second largest gold producer in Africa and ninth largest in the world.In 2015, there was a mixed performance in the production of the traditional minerals. Gold and diamonds production dropped while manganese and bauxite production increased. A total of 3,623,740 ounces of gold was produced representing 18.96% from 4,471,573 ounces in 2014. The reduction in production was partly due to the suspension of mining activities by AngloGold Obuasi; general price decline in gold prices; persistent power outages and its consequential impacts on the cost of doing business in Ghana.
Oil production began in late 2010, and the Jubilee Field is the only major producing field, estimated to hold about 460 million barrels of crude oil and 568 billion cubic feet of natural gas.In 2015, the total crude oil and gas produced in Ghana were 37,437,114 BBLS and 52,568 MMSCF respectively.
Ghana is endowed with mineral resources such as gold, diamonds and manganese, oil and gas. The Jubilee Field, discovered in 2007, is the largest offshore oil discovery in West Africa over the last decade, estimated to hold between 600 million and 1.5 billion barrels.