The Minerals Income Investment Fund has announced that Ghana recorded a historic GH¢5.43 billion in mineral royalties in 2025, marking a 10.8 percent increase from the previous year and underscoring the growing importance of the mining sector to the country’s public finances. The strong performance reflects improved regulatory compliance, rising commodity prices and stronger monitoring across Ghana’s mining value chain.
The latest figures indicate that royalties from mining operations continued to rise despite fluctuations in production levels in some segments of the industry. The Minerals Income Investment Fund said the increase demonstrates the impact of reforms and closer collaboration with institutions such as the Minerals Commission, the Ghana Revenue Authority and other regulatory agencies responsible for monitoring mineral production and revenue collection. These partnerships have helped broaden the royalty base and reduce leakages in the system.
Gold mining remained the dominant contributor to the country’s mineral royalty earnings. Ghana, which is Africa’s largest gold producer, relies heavily on the precious metal as a major source of export revenue and foreign exchange. According to industry data, large scale gold mining generated the largest share of royalty inflows during the year, reflecting both strong global gold prices and sustained output from major mining operations. By the end of the third quarter of 2025 alone, royalties from large scale gold mining had reached about US$291.87 million, representing a 40.18 percent increase compared with the same period in 2024.
The mid tier gold mining segment also recorded notable gains during the period. Royalties from this category increased from about GH¢40.61 million in the previous year to approximately GH¢59.44 million in 2025, representing growth of more than 46 percent. Analysts say this rise reflects stronger operational performance among medium sized mining firms as well as improved compliance with royalty obligations.
Another standout performer was the manganese sector, which posted the most dramatic increase in royalty receipts during the year. Payments from manganese mining surged by about 170 percent, climbing from US$4.72 million in 2024 to approximately US$12.75 million in 2025. The sharp increase has been attributed to higher production volumes and improved enforcement of royalty payment regulations among operators in the sector.
Other mining subsectors also contributed to the positive trend in royalty collections. The quarry industry recorded a 13.12 percent increase in royalties, rising from GH¢11.62 million to about GH¢13.15 million within the same period. Meanwhile, the sand mining subsector experienced a 21.48 percent increase, with receipts climbing from roughly GH¢364,998 to more than GH¢433,406.
Officials at the Minerals Income Investment Fund say the performance demonstrates the effectiveness of ongoing efforts to ensure that Ghana derives greater value from its natural resources. The fund was established by the government to manage and invest mineral royalties and other mining related revenues for the long term benefit of the country. Its mandate includes using these funds to support strategic investments in the mining sector while also generating wealth for future generations.
Chief Executive Officer Justina Nelson has described the surge in royalty inflows as encouraging, noting that the results provide motivation for the fund to deepen its engagement with stakeholders across the mining industry. She emphasised that MIIF will continue to work closely with mining companies, regulators and other institutions to ensure full compliance with royalty obligations while strengthening transparency and accountability in the sector.
Beyond revenue collection, the fund has also been expanding its investment portfolio across Ghana’s mineral value chain. MIIF has taken equity stakes in several mining related ventures and strategic projects aimed at increasing Ghanaian participation in the industry. These include investments in gold mining operations as well as emerging minerals such as lithium and graphite that are expected to play a key role in the global energy transition.
The fund has also supported initiatives to develop mineral based industrial projects, including large scale salt production ventures and processing facilities intended to add value to Ghana’s natural resources before export. Officials say such investments are designed to transform the country from a primarily raw mineral exporter into a hub for mineral processing and industrial development.
Industry observers believe the continued growth in mineral royalties could strengthen Ghana’s fiscal position if managed effectively. Mining remains one of the country’s most important economic sectors, accounting for a large share of export earnings and government revenue. However, policymakers have long faced pressure to ensure that the benefits of mineral wealth are distributed more broadly across the economy and used to support sustainable development.
With mineral royalties reaching record levels in 2025, authorities are increasingly focused on improving governance in the sector while pursuing policies that enhance domestic value addition and investment in critical minerals. The Minerals Income Investment Fund says it will continue to strengthen oversight and collaboration with regulatory bodies to ensure that Ghana maximises the economic benefits of its vast mineral resources.