Royalty payments due the Government of Ghana from non-gold minerals such as Manganese, Salt, Limestone and Quarrying activities are set for an upturn due to an Inter-Agency collaboration framework and Task Force initiated by the Minerals Income Investment Fund (MIIF).
The framework is part of the strategic thrust of MIIF to enhance royalties collection, expand the royalties net and streamline communication on royalties payments of non-gold mining companies. The collaboration which was initiated in December 2021 has improved the efficiency in collections by the Ghana Revenue Authority (GRA) which is responsible for the collection of royalties on behalf of MIIF, the Ghana Standards Authority (GSA) which assesses standards and accurate production measurements of minerals and the Minerals Commission (MINCOM), the regulator of the mining sector.
Prior to the establishment of the inter-agency framework arrangement, operators in Quarrying, Limestone, Salt and Sand winning activities either did not honour payments or underpaid their royalties. Mineral Royalties are payments made by all mining companies to the Government of Ghana through MIIF for the right to continuous production from a particular mine. In Ghana, royalties are typically agreed as a percentage of gross or net production of every mineral including Salt, limestone, Sand Winning and Quarrying activities.
Source: My Joy Online