Ghana’s mineral revenue base continued to show resilience in 2025, with gold and manganese leading the gains, the Minerals Income Investment Fund (MIIF) has reported.

According to MIIF data, royalty receipts from large-scale gold mines rose to GH¢5.1 billion in 2025, up from GH¢4.7 billion in 2024, representing an increase of nearly GH¢394 million.

The strong performance was attributed to MIIF’s robust monitoring of mines, collaboration with stakeholders including the Minerals Commission and Ghana Revenue Authority (GRA), elevated global gold prices, and expanded production from key mines such as Newmont Ahafo North and Cardinal Namdini.

MIIF mineral royalties hit record GH¢5.43 billion in 2025

Manganese also recorded notable growth, emerging as one of the year’s strongest performers outside gold. Royalty receipts from the sector increased to GH¢212 million in 2025, up from GH¢186 million in 2024, representing growth of approximately 14.4%.

The increase was driven by higher production volumes and improved compliance with royalty obligations.

Other minerals, including granite, limestone, sand, and salt, which collectively contribute just about one percent to total royalty receipts, fell slightly below annual targets. Factors included competitive pricing pressures, restricted access to export regions, declining salt prices, increased imports, and unfavorable weather conditions.

MIIF Chief Executive Officer Justina Nelson however described the 2025 performance as “welcoming and inspiring”.

She noted that it marked the first time royalty inflows had exceeded the GH¢5 billion threshold.

“Despite challenging conditions, total receipts surpassed GH¢5.43 billion, up from GH¢4.90 billion in 2024,” she said.

Nelson also highlighted that despite the cedi’s appreciation, from about GH¢17 to the dollar at the start of 2025 to GH¢12 by year-end, revenue growth remained strong.

Looking ahead, she said MIIF will continue to collaborate with the Ghana Revenue Authority (GRA) and the Minerals Commission, tighten internal controls, expand field monitoring, and encourage higher production across the extractive sector to further increase royalty inflows.

“The Fund remains committed to ensuring that Ghana’s mineral wealth continues to benefit both present and future generations,” Nelson added.

MA