MIIF mineral royalties surge 106% to GH¢7.82bn in nine months
The Minerals Income Investment Fund (MIIF) generated GH¢7.82 billion in mineral royalty revenue between January and September 2026, marking a 106% increase from the GH¢3.79 billion recorded during the same period in 2025.
The growth was attributed to rising gold prices, the introduction of the sliding-scale royalty mechanism, stable production levels and improved monitoring of mining operations by the Fund’s Technical and Operations Department.
MIIF is aiming to collect approximately GH¢9 billion in mineral royalties by the end of 2026.
Large-scale gold mining remained the biggest contributor, generating about GH¢7.66 billion in royalties during the first nine months of 2026, compared with GH¢3.54 billion over the corresponding period in 2025.
This represents an increase of approximately 116%, accounting for the bulk of the Fund’s total mineral royalty revenue.
The mid-tier gold mining sector also recorded substantial growth, with royalty receipts rising from about GH¢55.31 million in the first nine months of 2025 to GH¢110.34 million during the same period in 2026, an increase of approximately 99%.
Among non-gold minerals, quarry royalties grew by about 6%, increasing from GH¢10.8 million in the first nine months of 2025 to GH¢11.35 million in 2026.
Sand royalties also rose by approximately 41%, from GH¢390,274 in the first nine months of 2025 to GH¢550,871 over the corresponding period in 2026.
However, limestone royalties fell from GH¢7.08 million to GH¢4.84 million. The decline was attributed to lower production, particularly in the second quarter, when heavy rainfall disrupted mining operations and reduced output.
The third-quarter performance builds on MIIF’s strong results in the first half of 2026, when the Fund collected more than GH¢5.3 billion in mineral royalties, compared with approximately GH¢2.64 billion during the same period in 2025.
Commenting on the figures, MIIF Chief Executive Officer, Justina Nelson, reaffirmed the Fund’s commitment to sound financial management and the effective use of mineral revenues for the benefit of Ghana.
She noted that the Fund’s responsibilities go beyond collecting mineral royalties to include strategic investments across the mining value chain through equities, fixed-income securities and alternative investment instruments, with the aim of generating sustainable returns for the country.
As it pursues its annual target of approximately GH¢9 billion, MIIF says it remains focused on maximising the value of Ghana’s mineral resources and ensuring that the resulting revenue supports sustainable national development.
The Fund continues to carry out its mandate under the Minerals Income Investment Fund Act, 2018 (Act 978), as amended, to maximise dividend and royalty income accruing to the Republic and manage the country’s mineral wealth responsibly, transparently and sustainably for the benefit of current and future generations.
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