MIIF Mineral Royalties Reach Record GHS5.43 Billion in 2025

Accra: The Minerals Income Investment Fund (MIIF) achieved a record GHS5.43 billion in mineral royalties in 2025, marking a 10.8 percent increase from the GHS4.90 billion collected in 2024. This milestone represents the highest royalty inflow since the Fund's inception and underscores improved operational efficiency, enhanced compliance monitoring, and favorable global commodity prices. According to Ghana Web, the increase was largely driven by nationwide efforts to improve monitoring of mining operations, ensuring strict adherence to royalty payment obligations. This initiative significantly reduced payment delays and enhanced collection efficiency. Additionally, elevated international gold prices contributed to the surge in royalty revenues, creating advantageous conditions for increased income from Ghana's gold mining activities. Large-scale gold mines continued to be the central pillar of Ghana's mineral revenue, with royalty receipts from this sector climbing to GHS5.1 billion in 2025 from GHS4.7 billi on in 2024. This nearly GHS394 million increase was supported by higher production levels, including outputs from the Newmont Ahafo North mine and the Cardinal Namdini project, as well as improved monitoring and collaboration efforts between MIIF, the Minerals Commission, and the Ghana Revenue Authority (GRA). The manganese subsector also experienced robust growth, with royalty receipts rising to GHS212 million in 2025 from GHS186 million in 2024, reflecting a 14.4 percent increase. This growth was attributed to higher production volumes and better compliance with royalty payment obligations. However, royalties from other minerals such as granite, limestone, sand, and salt fell slightly below target due to competitive pricing pressures, reduced margins, limited access to export markets, falling salt prices, increased imports, and adverse weather conditions. Justina Nelson, the Chief Executive Officer of MIIF, highlighted this achievement as a significant milestone, being the first time royalty inflows have surpassed the GHS5 billion mark since the Fund's establishment. She noted that this accomplishment came despite macroeconomic challenges, including exchange rate fluctuations throughout the year. The dollar began 2025 trading at around GHS17, which was used for projections on large-scale gold royalties, but the cedi later strengthened to about GHS12 to the dollar. Despite this currency appreciation, the Fund still surpassed the previous year's GHS4.9 billion in royalties. Nelson emphasized MIIF's commitment to continue working with state institutions like the Ghana Revenue Authority and Minerals Commission to enhance compliance enforcement and expand field monitoring across the mining sector. She reiterated the Fund's dedication to ensuring that Ghana's mineral resources generate sustainable benefits for both current and future generations.