Right To Dream started brightly but a superb free kick from distance courtesy of Matthew Longstaff gave United the lead, to rapturous applause from the crowd.
The Ghanaian outfit provided little attacking threat until Ibrahim Sadiq fired a volley at Otto Huuhtanen, but the Finnish keeper held onto the effort well as Dave Watson's side largely penned their opponents back until half time.
The African academy started the second half as they did the first, but a resolute United side would not be broken down and chances at either end became limited.
However, with the clock ticking, the Magpies started to come under pressure and eventually Ibrahim Sadiq levelled for the men in red.
And moments later, Mikkel Damsgarrd bent an effort beyond Otto Huuhtanen to give the defending champions a 2-1 lead with just over five minutes to go.
Max Allen did well to clear off the line to prevent a third, but a brave and valiant young Newcastle side could not muster an equaliser and now must settle for a third-fourth place playoff against O'Higgins of Chile on Friday.
Newcastle United Under-17s: Otto, Huuhtanen, Lewis Cass, Oliver Walters, Matthew Longstaff, Oisin McEntee, Jack Young, Kieren Aplin, Adam Wilson, Ryan Barrett, Max Allen, Deese Kasinga Madia