Ghana has received GH¢7.82 billion in mining royalty receipts between January and September 2026, following a review of the country’s mining royalty regime, which has generated an additional GH¢4 billion for the state.
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, said the introduction of a sliding-scale royalty system had helped the country secure greater revenue from its mineral resources, particularly during periods of rising gold prices.
Speaking at the Kwame Nkrumah University of Science and Technology (KNUST) Extractive Summit, the Minister explained that the previous flat-rate system did not allow the government to fully benefit from increases in international gold prices.
Under the old arrangement, mining companies paid royalties at fixed rates regardless of how much gold prices increased, allowing their profits to grow without a corresponding rise in government revenue.
To address this, the government introduced a sliding-scale system under which royalty rates range from 5 to 12 per cent, depending on prevailing gold prices. The arrangement is designed to increase the state’s share when prices rise while easing the burden on mining companies when prices decline.
Mr Armah-Kofi Buah said figures reported by the Minerals Income Investment Fund showed that the revised system had already delivered significant gains.
“Some of you will become valuable, and I want to bring some numbers that are so important to me on royalties. The Minerals Income Investment Fund has just reported that GH¢7.82 billion in royalty receipts between January and September this year has been received. Guess what we have received? GH¢3 billion. That decision has saved Ghana GH¢4 billion,” he stated.
He acknowledged that the policy faced resistance from some international stakeholders who argued that higher royalty rates could discourage investment in Ghana’s mining sector.
However, he maintained that the government relied on industry data and international best practices in reviewing the regime, adding that mining companies remained capable of making reasonable profits under the new system.
The Minister urged students, particularly those studying engineering and other extractive industry-related disciplines, to recognise the role of technical expertise and sound policy decisions in ensuring that Ghana maximises the benefits of its natural resources.
He also highlighted lessons from Ghana’s oil and gas industry, pointing to the Petroleum Revenue Management Act and the Local Content Act, which he said had helped create opportunities for Ghanaian businesses and professionals to participate in the sector.
