Ghana has received GH¢7.82 billion in mining royalty receipts between January and September 2026 following a review of the country’s royalty regime, Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah has said.
He said the revised regime had generated an additional GH¢4 billion for the state by ensuring that royalty payments increase in line with prevailing gold prices.
Speaking at the Kwame Nkrumah University of Science and Technology (KNUST) Extractive Summit, Mr Armah-Kofi Buah said the previous flat royalty system prevented the country from securing higher revenues during periods of rising gold prices.
Under the former arrangement, mining companies paid royalties at fixed rates regardless of increases in gold prices, allowing them to earn higher profits without corresponding increases in government revenue.
The government subsequently introduced a sliding-scale royalty system ranging from 5 to 12 per cent, which adjusts payments according to gold prices.
He said the revised system ensures that the state receives higher royalties when gold prices increase, while payments reduce when prices fall.
Citing figures from the Minerals Income Investment Fund, the minister said the country had received GH¢7.82 billion in royalty receipts within the first nine months of the year.
“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 said.
Mr Armah-Kofi Buah said the policy faced opposition from some international stakeholders who argued that higher royalty rates could discourage investment in the mining sector.
However, he said the government relied on industry data and international best practices to support the review, maintaining that mining companies could still make reasonable profits under the revised system.
He urged students, particularly those studying engineering and other extractive industry-related programmes, to recognise the importance of technical expertise and sound public policies in ensuring that Ghana maximises the benefits of its natural resources.
The minister also highlighted Ghana’s experience in the oil and gas industry, citing the Petroleum Revenue Management Act and the Local Content Act, which he said had created opportunities for Ghanaian businesses and professionals to participate in the sector.
He further pointed to the establishment of the Atuabo Gas Processing Plant as an example of the benefits of taking difficult but necessary policy decisions, noting that the facility had reduced the country’s dependence on imported fuel and increased the use of locally produced gas.
Mr Armah-Kofi Buah encouraged the students to make effective use of their time at the university and develop the skills needed to contribute to the extractive industry.
He said the success of natural resource management should ultimately be measured by its impact on people’s lives through job creation, access to clean water, skills development and the growth of Ghanaian businesses.
The summit, attended by students from KNUST’s College of Engineering and other faculties, was held on the theme, “From Rocks to Resources, to Result: Leading Ghana’s Extractive Future.”
