Ghana’s mining sector collected over GHS 2 billion in mineral royalties during the first quarter of 2026. This represents a 40% increase compared to the GHS 1.43 billion recorded in the same period of 2025.
This substantial growth stems largely from the strong performance of large-scale and mid-tier gold mining segments. High gold prices and increased production significantly contributed to the revenue surge. The actual collections also surpassed the Minerals Income Investment Fund's (MIIF) Q1 2026 forecast of GHS 1.57 billion by 28%.
This performance underscores the mining sector's vital role in Ghana's economy and its consistent contribution to public finances. The sector’s resilience helps stabilise government revenue amid broader economic uncertainties. It builds on the MIIF's historic achievement of crossing GHS 5 billion in royalty receipts for the first time in 2025.
Large-scale gold mining was the dominant contributor, generating GHS 1.97 billion in Q1 2026. This marks a 46% year-on-year increase from GHS 1.35 billion in Q1 2025. The mid-tier gold mining segment also saw royalties rise by 69% to GHS 25.78 million from GHS 15.30 million. This increase is attributed to high gold prices and better compliance enforcement.
Mrs. Justina Nelson, Chief Executive Officer of the Minerals Income Investment Fund, expressed optimism about the sector's trajectory. She stated that the strong Q1 results position the mining sector for another robust year. This projection relies on sustained favorable gold production and global commodity prices.
The Minerals Income Investment Fund (MIIF) is mandated to maximise value from Ghana's mineral wealth. Its efforts ensure long-term benefits for the country’s economic development. The Fund's royalty monitoring and compliance activities have notably improved revenue collection, especially in mid-tier gold and quarry subsectors.
However, the manganese sector expects a drop in royalties to GHS 31 million from GHS 60.97 million in Q1 2025. This projected shortfall is due to planned stripping activities to expose new ore bodies. The appreciation of the Ghana Cedi against the US Dollar also contributed to this anticipated decline. Quarry royalties showed modest growth, increasing to GHS 3.26 million from GHS 2.95 million, also benefiting from improved compliance.
The strong overall performance signals continued momentum in Ghana’s mineral revenue mobilisation. It highlights ongoing collaboration between regulators and industry players. The revival of a multi-agency committee to strengthen monitoring and collection of mineral royalties is expected to further boost compliance. This coordinated approach aims for a major turnaround in royalty collection across the mining industry.
Decision-makers will closely watch global gold prices and domestic production levels. These factors will continue to influence future royalty receipts. The government's fiscal planning will rely on sustained revenue from the mining sector. Further improvements in compliance could lead to even higher returns for the state.