Minerals Income Investment Fund Royalties Hit Record GH¢5.43bn
By Maame Efua Kwaduah
The Minerals Income Investment Fund (MIIF) registered a record GH¢5.43 billion in mineral royalties in 2025.
This represents a 10.8% increase from the GH¢4.90 billion collected in 2024.
It is the highest royalty inflow since the Fund’s establishment and highlights the impact of improved operational efficiency, stronger compliance monitoring and favourable global commodity prices.
Data from MIIF show that the growth was largely driven by enhanced nationwide monitoring of mining operations, which helped reduce payment delays and improve collection efficiency. Rising international gold prices also played a key role, creating ideal conditions for higher income from Ghana’s gold mining sector.
Large-scale gold mines continued to dominate Ghana’s mineral revenue, with royalty receipts rising to GH¢5.1 billion in 2025, up from GH¢4.7 billion in 2024 an increase of nearly GH¢394 million.
The strong performance was supported by increased production at key sites, including the Newmont Ahafo North mine and the Cardinal Namdini project. Collaboration between MIIF, the Minerals Commission and the Ghana Revenue Authority (GRA) further strengthened compliance and monitoring efforts.
The manganese subsector also recorded solid growth, with royalties climbing to GH¢212 million, up from GH¢186 million in 2024 a 14.4% increase. Higher production volumes and improved royalty compliance were cited as key drivers.
Other minerals, including granite, limestone, sand and salt, which collectively make up about 1% of total royalties, fell slightly below target. The decline was attributed to competitive pricing pressures, lower margins, limited export opportunities for Ghanaian salt, falling salt prices and unfavourable weather conditions.
MIIF Chief Executive Officer Justina Nelson described the 2025 results as a historic achievement, noting it is the first time royalty inflows have exceeded GH¢5 billion.
She highlighted that the results were achieved despite macroeconomic challenges, including exchange rate fluctuations, with the dollar trading at about GH¢17 at the start of 2025 before the cedi strengthened to around GH¢12.
Despite the cedi’s appreciation, MIIF still recorded GH¢5.43 billion in royalties, surpassing the GH¢4.9 billion collected in 2024.
Mrs. Nelson said the Fund will continue working closely with the GRA and Minerals Commission to strengthen compliance enforcement and expand field monitoring across the mining sector.
She emphasized that MIIF remains committed to ensuring Ghana’s mineral resources generate sustainable benefits for both current and future generations.
