By Issah Mohammed, GNA
Accra, Aug. 12, GNA – Ghana must strengthen revenue mobilisation from small-scale gold mining as the sector’s export earnings surge, the Institute of Fiscal Studies (IFS) has said.
The Institute said small-scale mining accounted for more than half of Ghana’s gold export value in 2025, but the state received little or no mineral royalty revenue from the sector.
“The government did not articulate any strategy in the mid-year budget for mobilizing revenue from the small-scale gold mining sector, despite the critical need for it,” Dr Said Boakye, Executive Director of the IFS, said at a press conference on the Institute’s analysis of the Mid-year Budget Review.
He said Ghana’s gold exports more than doubled in 2025, rising 103.3 per cent to US$20.98 billion from US$10.31 billion in 2024.
Small-scale mining accounted for US$10.80 billion, or 51.5 per cent, of total gold exports, Dr Boakye said.
Mineral royalties, however, increased by only 21.1 per cent, from US$364.87 million in 2024 to US$441.82 million in 2025.
Dr Boakye said information published by the Minerals Income Investment Fund (MIIF) indicated that the mineral royalties collected in 2025 came entirely from large-scale mining, with no collections from small-scale mining.
He said the divergence between export growth and royalty receipts highlighted weaknesses in the fiscal framework governing the small-scale mining sector.
The sector’s importance to Ghana’s gold economy has increased following the implementation of the Domestic Gold Purchase Programme and the establishment of the Ghana Gold Board (GoldBod), he said.
Dr Boakye said IFS enquiries also indicated that other major revenue instruments, including corporate income tax, generated little to no revenue from small-scale mining.
He said the failure to capture adequate fiscal revenue from the sector was limiting the state’s ability to translate higher gold exports into resources for financing economic growth programmes.
Dr Boakye called on the government to develop a clear strategy for raising revenue from small-scale gold mining and strengthen mechanisms to secure a fair return from the exploitation of the country’s mineral resources.
He said Ghana’s mineral resources were publicly endowed and held in trust by the state on behalf of the people.
Official 2025 production data showed that small-scale gold output rose to 3.11 million ounces, contributing to national gold production of nearly 5.94 million ounces.
GoldBod reported that the artisanal and small-scale mining sector exported about 103 tonnes of gold valued at approximately US$10.8 billion in 2025, exceeding the large-scale sector’s export value for the first time.
The IFS said the government should make revenue mobilisation from small-scale mining a priority to ensure that the sector’s expanding production and exports translated into greater fiscal benefits for the state.
GNA
Edited by Kenneth Sackey
Reporter: Issah Mohammed