Ghana Stone Quarry Royalties

The untapped potential of Ghana's quarry sector is a missed opportunity for national development. By prioritizing effective monitoring, adopting advanced technologies like volumetric scanners, and enforcing robust regulations, Ghana can transform the quarry industry into a transparent and thriving contributor to the economy. The next shock came when I discovered how royalties-money paid by the quarry operators to the government for the minerals they extract-are still collected manually.

In this digital age, with technology at our fingertips, Ghana's royalty collection system is stuck in the past. No digital systems. No transparency.

No accountability. Despite this substantial revenue, MIIF incurred a notable loss in 2022, exposing a startling reality: Ghana's quarry sector was leaking over GH¢50 million annually in uncollected royalties. The Minerals Income Investment Fund (MIIF) says Ghana loses over GH¢50 million annually in royalties from quarry due to the country's over-concentration on gold resources.

The Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng who said this at the opening of the 2022 Ghana Mining Week and Gold Expo in Takoradi said quarry should be giving Ghana around GH¢100 million royalties. The report further indicated that although the quarry sector had the potential to rake in GH¢100 million in royalties to the state annually, only GH¢3.5 million was recorded. The ongoing monitoring tour began with visits to quarry and salt mining sites in the Greater Accra and Eastern Regions of Ghana.

The team covered all quarry sites in Nsawam, Suhum, and Shai Hills. The team also visited salt mines in the Ada enclave, including Electrochem Salt and Dangbe Salt, among others. The Minerals Income Investment Fund (MIIF) says Ghana loses over GH¢50 million annually in royalties from quarry due to the country's over-concentration on gold resources.

The Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng who said this at the opening of the 2022 Ghana Mining Week and. The ongoing monitoring tour began with visits to quarry and salt mining sites in the Greater Accra and Eastern Regions of Ghana. The team covered all quarry sites in Nsawam, Suhum, and Shai Hills.

The team also visited salt mines in the Ada enclave, including Electrochem Salt and Dangbe Salt, among others. During the tour, two emerging salt mines were identified, with one scheduled to commence.