Ghana’s MIIF Records Record GH₵5.43 Billion in Mineral Royalties in 2025

Ghana’s Minerals Income Investment Fund (MIIF) hit a record GH₵5.43 billion in mineral royalties in 2025, up 10.8% from 2024. Gold remained the main contributor, with GH₵5.1 billion, supported by high global prices and expanded mine output. Manganese also grew, while other minerals underperformed. The increase reflects better monitoring, compliance, and favorable market conditions.

Ghana’s Minerals Income Investment Fund (MIIF) has achieved a historic milestone by recording its highest-ever mineral royalty collections, with total receipts reaching GH₵5.43 billion in 2025. This represents a significant increase of 10.8 percent compared to GH₵4.90 billion in 2024, signaling both improved compliance among mining operators and the positive influence of favorable global commodity prices. According to the Ghana News Agency, this surge in royalty revenue marks a remarkable achievement for the Fund, reflecting enhanced operational efficiency as well as supportive conditions in the international mineral market.
A statement from MIIF indicated that the strong performance in 2025 was driven by a combination of strategic measures implemented internally and external market factors. One key element contributing to the growth was enhanced nationwide monitoring of mining operations, ensuring that all operators complied with their royalty payment obligations. The Fund emphasized that consistent enforcement of royalty collection has played a crucial role in maximizing revenue. In addition, international gold prices remained elevated throughout the year, which positively affected the valuation of royalties. The sustained high pricing environment for gold created favorable conditions that enabled significant increases in revenue generation from the country’s gold mining operations.
Large-scale gold mining continued to serve as the backbone of Ghana’s mineral revenue, contributing the largest share of royalty income. Royalty receipts from gold rose to GH₵5.1 billion in 2025, up from GH₵4.7 billion in 2024, representing an increase of nearly GH₵394 million. This growth reflects MIIF’s effective monitoring of mining activities, as well as close collaboration with other key stakeholders, including the Minerals Commission and the Ghana Revenue Authority. The rise in gold royalties was also supported by elevated global gold prices throughout the year and an expansion in production output, which included significant contributions from the Newmont Ahafo North Mine and the Cardinal Namdini Mine. These combined factors ensured that the gold sector remained the dominant driver of mineral income for the country.
Beyond gold, the manganese subsector also recorded notable gains, with royalty collections rising to GH₵212 million in 2025 from GH₵186 million in 2024. This increase was largely driven by higher production volumes and improved adherence to royalty obligations, reflecting the positive impact of better compliance enforcement in the sector. Despite these successes, other mineral sectors—including granite, limestone, sand, and salt—did not perform as strongly as anticipated. These minerals contributed only about one percent of the total royalties collected, falling short of the Fund’s projected targets and highlighting areas where further monitoring and development may be required.
Overall, the record-breaking performance of MIIF in 2025 underscores the importance of effective regulatory oversight, strategic stakeholder collaboration, and favorable market conditions in driving revenue growth. The combination of rigorous monitoring, adherence to compliance standards, and high global commodity prices has positioned the Fund to achieve unprecedented royalty collections, setting a benchmark for future performance in Ghana’s mineral revenue sector. The results also illustrate the critical role that gold and manganese play in sustaining the country’s mineral income, while highlighting the need to strengthen the contributions from other minerals to ensure a more diversified and resilient revenue base in the coming years.