Accra:The country's mineral royalty revenue reached GHS7.82 billion between January and September 2026, more than doubling the GHS3.79 billion recorded in the same period in 2025.
According to Ghana Web, this 106% increase was largely attributed to higher gold prices, improved monitoring of mining activities, and changes in royalty calculations. The Minerals Income Investment Fund (MIIF) reported that its revenue target for 2026 is nearly 87% achieved with three months still remaining in the year.
Large-scale gold mining was the primary contributor to this revenue, generating GHS7.66 billion in the first nine months of 2026, compared to GHS3.54 billion during the same period last year. This marks an increase of about 116%, underscoring the growing significance of gold mining to Ghana's mineral earnings.
Royalties from mid-tier gold mining companies also saw a significant rise, nearly doubling from GHS55.31 million to GHS110.34 million over the same period. The sliding-scale royalty system, which increases government revenue percentages as gold prices rise, was cited as a factor in the overall revenue growth.
While other minerals also recorded increases, their contributions remained relatively modest. Quarry operations revenue increased from GHS10.8 million to GHS11.35 million, and sand royalties rose by 41% from GHS390,274 to GHS550,871. However, limestone royalties fell from GHS7.08 million to GHS4.84 million, mainly due to reduced production caused by heavy rainfall in the second quarter.
The latest figures follow a robust first half of 2026, with over GHS5.3 billion collected in mineral royalties, compared to about GHS2.64 billion in the first half of 2025. MIIF's Chief Executive Officer, Justina Nelson, emphasized the Fund's commitment to responsible financial management and strategic investments, ensuring that Ghana benefits from its mineral resources. The Fund plans to leverage these revenues for long-term returns by investing in mining businesses and other income-generating ventures.
To meet its GHS9 billion target, MIIF needs approximately GHS1.18 billion more in the final quarter of 2026. The Fund operates under the Minerals Income Investment Fund Act, 2018 (Act 978), which mandates it to manage and invest Ghana's mineral royalty and dividend income for the benefit of current and future generations.