{"id":249159,"date":"2024-11-11T18:51:58","date_gmt":"2024-11-11T18:51:58","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/11\/miif-sets-december-1-deadline-for-mining-companies-to-clear-outstanding-royalties\/"},"modified":"2024-11-11T18:51:58","modified_gmt":"2024-11-11T18:51:58","slug":"miif-sets-december-1-deadline-for-mining-companies-to-clear-outstanding-royalties","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/11\/miif-sets-december-1-deadline-for-mining-companies-to-clear-outstanding-royalties\/","title":{"rendered":"MIIF sets December 1 deadline for mining companies to clear outstanding royalties"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Minerals Income Investment Fund (MIIF) has issued a firm deadline for all active and licensed mining companies in Ghana, demanding that they clear any outstanding mineral royalties by December 1, 2024.<\/p>\n<p>This move is part of MIIF\u2019s initiative to enforce compliance with the Minerals Income Investment Fund Act, 2018 (Act 978), which mandates that companies pay royalties to support Ghana\u2019s mineral revenue development efforts.<\/p>\n<p>In a public notice, the Minerals Income Investment Fund emphasized that all gold mining companies, quarry operators, salt mining businesses, limestone operators, and sand winners must pay their due royalties either by depositing funds directly into the MIIF account at the Bank of Ghana or via the government\u2019s digital payment portal, www.Ghana.gov.gh.<\/p>\n<p>Companies that fail to comply by the deadline could face severe penalties, with the Minerals Income Investment Fund warning of possible sanctions as a consequence of non-compliance.<\/p>\n<p>Beyond the payment of royalties, the notice also clarified that mining operators are required to submit production and sales returns to both the Ghana Revenue Authority (GRA) and MIIF\u2019s Finance Department.<\/p>\n<p>The Minerals Income Investment Fund\u2019s decision to enforce this deadline is part of a broader national campaign aimed at ensuring mining companies adhere to legal obligations and contribute their fair share to Ghana\u2019s economy.<\/p>\n<p>Mining royalties represent a significant source of revenue for the country, funding essential infrastructure, social projects, and other government initiatives.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1106423\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/11\/WhatsApp-Image-2024-11-11-at-17.16.00_3626e0f1.jpg\" alt=\"\" width=\"1080\" height=\"605\"  \/><\/p>\n<p><em><strong>#GhanaPolls2024<\/strong><\/em><br \/><em><strong>#ElectionBureau<\/strong><\/em><br \/><em><strong>#CitiVerify<\/strong><\/em><\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the\u00a0\u00a0<span class=\"google-anno-t\">Citi Newsroom<\/span>\u00a0channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<div class=\"google-auto-placed ap_container\">\n<p><em><strong>No spam, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/div>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Minerals Income Investment Fund (MIIF) has issued a firm deadline for all active and licensed mining companies in Ghana, demanding that they clear any outstanding mineral royalties by December 1, 2024. This move is part of MIIF\u2019s initiative to enforce compliance with the Minerals Income Investment Fund Act, 2018 (Act 978), which mandates that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":249160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-249159","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MIIF sets December 1 deadline for mining companies to clear outstanding royalties - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/11\/miif-sets-december-1-deadline-for-mining-companies-to-clear-outstanding-royalties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MIIF sets December 1 deadline for mining companies to clear outstanding royalties - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Minerals Income Investment Fund (MIIF) has issued a firm deadline for all active and licensed mining companies in Ghana, demanding that they clear any outstanding mineral royalties by December 1, 2024. 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