Ghana’s mineral royalty receipts recorded a significant increase in the first quarter of 2026, with total inflows rising to more than GH¢2 billion, according to newly released data.

The latest figures reflect the continued resilience of the country’s mining sector, driven largely by strong performance in the large-scale and mid-tier gold mining segments.

The first-quarter performance also signals a positive outlook for the year, following the historic achievement by the Minerals Income Investment Fund (MIIF) of surpassing GH¢5 billion in royalty receipts in 2025, the first time such a milestone has been recorded in the Fund’s history.

The data show that total mineral royalties increased from GH¢1.43 billion in the first quarter of 2025 to GH¢2.01 billion in the corresponding period of 2026, representing a 40 percent increase in revenue mobilisation.

Actual collections also exceeded MIIF’s first-quarter 2026 forecast of GH¢1.57 billion by 28 percent.

Large-Scale Gold

Large-scale gold mining remained the biggest contributor to royalty receipts during the period under review, generating GH¢1.97 billion in the first quarter of 2026, compared with GH¢1.35 billion during the same period in 2025.

This represents a 46 per cent year-on-year increase and exceeded the projected target of GH¢1.49 billion by 33 percent.

The growth was driven mainly by higher gold prices and increased production relative to the previous year.

The sharp increase reinforces the sector’s dominance in Ghana’s extractive industry and points to sustained investor confidence and stronger royalty contributions from major gold-producing companies.

Mid-Tier Gold

The mid-tier gold mining segment also posted strong growth, with royalties rising from GH¢15.30 million in the first quarter of 2025 to GH¢25.78 million in the same period of 2026, representing a 69 percent increase.

The segment outperformed its forecast by 53 percent, supported by elevated gold prices and improved compliance resulting from MIIF’s royalty monitoring and enforcement efforts.

Quarry (Granite and Limestone)

The quarry subsector recorded modest growth, with royalties increasing from GH¢2.95 million to GH¢3.26 million over the comparative periods, largely due to enhanced monitoring and compliance initiatives.

Limestone royalties stood at GH¢1.77 million, down slightly from GH¢1.86 million, reflecting reduced production in the sector.

Manganese

The manganese sector contributed GH¢60.97 million in the first quarter of 2025 but is expected to generate approximately GH¢31 million for the same period in 2026.

The projected decline is attributed to planned stripping activities to expose additional ore bodies, which temporarily reduced production, as well as the appreciation of the Ghana cedi against the US dollar.

Other Minerals

Sand mining revenues remained largely unchanged, increasing marginally from GH¢361,184 in 2025 to GH¢362,536 in 2026.

Salt receipts amounted to GH¢330,464.

Outlook

The strong overall performance indicates continued momentum in Ghana’s mineral revenue mobilisation efforts and reflects ongoing collaboration between regulators and industry stakeholders to improve compliance and optimise royalty collections.

Commenting on the first-quarter 2026 performance, MIIF Chief Executive Officer Justina Nelson expressed optimism that the results would position the mining sector for another robust year, particularly if gold production and global commodity prices remain favourable.

She also noted that the reactivation of a multi-agency committee tasked with strengthening the monitoring and collection of mineral royalties and other mining-related revenues would further enhance compliance.

According to Nelson, discussions at the committee’s inaugural meeting focused on restoring coordination among institutions responsible for tracking royalties, production declarations, and regulatory compliance across the mining sector.

She said the renewed collaboration is expected to lead to a significant improvement in royalty monitoring and collection throughout the industry.

The performance also reinforces MIIF’s broader mandate of maximising value from Ghana’s mineral wealth while ensuring long-term benefits for the country’s economic development and future generations.