MIIF records GH¢7.82bn in mineral royalties in first nine months of 2026

The Minerals Income Investment Fund (MIIF) recorded GH¢7.82 billion in mineral royalty receipts between January and September 2026, representing a 106% increase over the GH¢3.79 billion recorded during the corresponding period in 2025.

The strong performance was driven by higher gold prices, the implementation of the sliding-scale royalty mechanism, resilient production levels and enhanced monitoring of mining activities by the Fund’s Technical and Operations Department.

MIIF is targeting approximately GH¢9 billion in mineral royalty receipts by the end of 2026.

Large-scale gold mining remained the leading contributor, generating approximately GH¢7.66 billion in royalties during the first nine months of 2026, compared with GH¢3.54 billion over the same period in 2025.

This represents an increase of approximately 116%, accounting for the overwhelming majority of total mineral royalty receipts.

“Mid-tier” gold mining also recorded significant growth, with royalty receipts rising from approximately GH¢55.31 million in the first nine months of 2025 to GH¢110.34 million during the corresponding period in 2026, representing an increase of approximately 99%.

Among non-gold minerals, quarry royalties increased to GH¢11.35 million from approximately GH¢10.8 million in the first nine months of 2025, representing growth of about 6% increase in 2026.

Sand royalties also increased by approximately 41%, rising from GH¢390,274 in the first nine months of 2025 to GH¢550,871 during the same period in 2026.

In contrast, limestone royalties declined from GH¢7.08 million to GH¢4.84 million. The decline is attributed to reduced production, particularly during the second quarter, when increased rainfall disrupted mining activities and constrained output.

The third-quarter results build on MIIF’s strong performance in the first half of 2026, when the Fund recorded more than GH¢5.3 billion in mineral royalty receipts, compared with approximately GH¢2.64 billion during the corresponding period in 2025.

Commenting on the performance, Chief Executive Officer of MIIF, Mrs. Justina Nelson, reaffirmed the Fund’s commitment to responsible financial management and the effective utilisation of mineral revenues for the benefit of the Republic of Ghana.

She emphasised that MIIF’s mandate extends beyond mineral royalty receipts to include strategic investments across the mining value chain through equities, fixed-income securities and alternative investments, with the objective of generating sustainable returns for the Republic.

As it works towards its annual target of approximately GH¢9 billion, MIIF remains committed to maximising the value of Ghana’s mineral wealth and ensuring that mineral revenues contribute meaningfully to sustainable national development.

The Fund continues to discharge its statutory mandate under the Minerals Income Investment Fund Act, 2018 (Act 978), as amended, to maximise the value of dividend and royalty income accruing to the Republic and manage Ghana’s mineral wealth in a beneficial, accountable and sustainable manner, for the benefit of present and future generations.