Ghana's mining sector generated over GHS 2 billion in mineral royalties during the first quarter of 2026. This figure marks a 40% increase compared to the GHS 1.43 billion collected in the first quarter of 2025. The Minerals Income Investment Fund (MIIF) reported that these receipts also exceeded their Q1 2026 forecast of GHS 1.57 billion by 28%.
The significant rise in royalties was largely driven by robust performance in the large-scale and mid-tier gold mining segments. High gold prices and increased production contributed to this growth. The positive outlook follows the MIIF's historic achievement of crossing GHS 5 billion in royalty receipts for the full year 2025.
This strong performance in mineral royalty collection highlights the mining sector's continued importance to Ghana's economy. The sector remains a key contributor to government revenue and foreign exchange. It sustains economic stability amidst broader global economic uncertainties, underpinning national development objectives.
Mrs. Justina Nelson, CEO of the Minerals Income Investment Fund, expressed optimism about the sector's trajectory. She stated that favourable gold production and global commodity prices would lead to another robust year. Mrs. Nelson also noted that a revived multi-agency committee aims to boost compliance in royalty collection.
Looking ahead, the sustained performance of the mining sector will be crucial for Ghana's macroeconomic stability. Decision-makers and markets will closely watch global gold prices and local production levels. The ongoing efforts by MIIF and other agencies to improve royalty monitoring and compliance could lead to even greater revenue mobilization.
Large-scale gold mining contributed GHS 1.97 billion in Q1 2026, a 46% increase from GHS 1.35 billion in Q1 2025. This exceeded its projected target of GHS 1.49 billion by 33%. The mid-tier gold mining segment also saw royalties surge to GHS 25.78 million, a 69% increase from GHS 15.30 million in the first quarter of 2025. Improved compliance due to royalty monitoring efforts helped this growth.
The quarry subsector, including granite and limestone, recorded modest growth, rising from GHS 2.95 million to GHS 3.26 million. However, manganese royalties are expected to drop to approximately GHS 31 million from GHS 60.97 million in Q1 2025. This projected shortfall is due to planned stripping activities and the appreciation of the Ghana Cedi against the US Dollar.
Sand mining revenues remained stable at GHS 362,536, while salt receipts stood at GHS 330,464. The overall strong performance indicates continued momentum in mineral revenue mobilization. It also reflects ongoing collaboration among regulators and industry players to optimize collections. The revived multi-agency committee aims to restore coordination among institutions responsible for tracking royalties. Such coordination should lead to a major turnaround in royalty monitoring and collection across the industry.