Ghana’s mining sector has delivered robust royalty revenues through the first nine months of 2025, with the Minerals Income Investment Fund (MIIF) reporting significant increases across all major mineral categories.
The Fund attributed the positive trend to improved regulatory compliance, increased mineral production and sustained investor confidence in the country’s extractive industries.
Large scale gold operations generated the bulk of revenue, contributing US$291.87 million in royalties by September 2025. This represented a 40.18% increase from the US$208.20 million recorded during the same period in 2024. Gold mining continues to anchor the sector, accounting for the majority of mineral revenue flowing into state coffers.
Mid tier gold producers also delivered strong results, with royalty payments climbing 46.38% from GH₵40.61 million to GH₵59.44 million between January and September. The growth reflected expanded output from smaller scale commercial operations that complement the industry’s larger players.
Manganese mining emerged as the standout performer, recording a 170% surge in royalty contributions. Payments jumped from US$4.72 million in the first three quarters of 2024 to US$12.75 million this year. The Fund credited enhanced production volumes and better compliance practices among manganese operators for the dramatic increase.
Other segments maintained steady upward momentum. Limestone mining royalties rose 13.12%, moving from GH₵11.62 million to GH₵13.15 million over the nine month period. Sand mining operations increased their contributions by 21.48%, with royalties climbing from GH₵364,998.58 to GH₵433,406.41.
Mrs Justina Nelson, Chief Executive Officer of MIIF, described the results as encouraging evidence of effective stakeholder engagement. She emphasized that the Fund would maintain its collaborative approach with mining operators to sustain the growth momentum.
“We will not rest on our oars even with this achievement because we know there is more work to be done to end the year and in the years ahead,” Mrs Nelson stated.
She expressed confidence that MIIF would finish 2025 strongly, supported by the substantial revenue inflows already recorded. The CEO reaffirmed the Fund’s mandate to protect Ghana’s mineral resources while ensuring that mining revenues deliver lasting benefits for present and future generations.
The performance comes amid broader efforts by Ghana to maximise value from its natural resource endowments while maintaining environmental and social standards in the extractive sector.
