Producing member companies of the Ghana Chamber of Mines spent a total of US$7.14 billion within the Ghanaian economy in 2025, reaffirming the mining sector’s critical role as a driver of economic activity, job creation, business growth, and community development.
The figures were announced by the Immediate Past President of the Ghana Chamber of Mines, Mr. Michael Edem Akafia, at the Chamber’s 98th Annual General Meeting held at the La Palm Royal Beach Hotel in Accra.
According to Mr. Akafia, the expenditure demonstrates the significant extent to which mineral revenues generated by Chamber member companies are retained and reinvested in the domestic economy. Of the total amount spent in-country, US$4.20 billion was paid to local suppliers and service providers, US$2.14 billion went to taxes and levies, US$720.12 million was paid in employee remunerations, and US$88.60 million was invested directly in host communities through various social and development initiatives.
“The figures underscore the mining industry’s substantial contribution to economic growth through local procurement, employment creation, fiscal payments and community investments,” Mr. Akafia stated.
In addition to its local economic impact, the mining and quarrying sector remained the single largest contributor to direct domestic tax revenue in 2025. Total fiscal revenue generated by the sector increased by 10.61 per cent from GH¢21.90 billion in 2024 to GH¢24.22 billion in 2025.
Taxes attributable to the sector rose from GH¢20.87 billion in 2024 to GH¢23.11 billion in 2025, representing a 10.76 per cent increase. Corporate income tax payments increased from GH¢13.58 billion to GH¢14.69 billion, while mineral royalty receipts grew from GH¢4.90 billion to GH¢5.41 billion. Employee income taxes also rose significantly from GH¢2.39 billion to GH¢3.01 billion.
Dividends paid by mining companies to the State increased by 7.56 per cent from GH¢1.03 billion in 2024 to GH¢1.11 billion in 2025. Overall, the sector accounted for 27.65 per cent of all direct domestic tax revenue mobilised by the Ghana Revenue Authority during the year.
The sector’s contribution to Ghana’s foreign exchange earnings was equally remarkable. Mineral export receipts surged by 77.99 per cent from US$11.98 billion in 2024 to US$21.36 billion in 2025, increasing the sector’s share of gross merchandise exports from 58.45 per cent to 68.22 per cent. This further cemented mining’s position as Ghana’s leading source of export earnings and foreign exchange inflows.
Despite these impressive gains, Mr. Akafia highlighted the need for stronger fiscal formalisation within the artisanal and small-scale mining subsector. He observed that although small-scale mining accounted for more than half of Ghana’s gold production in 2025, the subsector’s direct contribution through corporate income tax, mineral royalties and employee income taxes remained minimal.
He therefore called for measures to improve compliance, traceability and revenue mobilisation within the small-scale mining segment to ensure that its growing production contribution is matched by corresponding fiscal contributions.
Mr. Akafia also renewed the Chamber’s longstanding call for a greater share of mineral royalties to be returned directly to mining communities. Specifically, he advocated the allocation of at least 30 per cent of mineral royalties to mining host communities to support local development and strengthen the social licence of mining operations.
Additionally, he urged Parliament to enact a Mineral Revenue Management Act to establish a transparent, accountable and predictable framework for the collection, allocation and utilisation of mineral revenues, including provisions to safeguard resources for future generations.