MIIF: Assets under management set to reach $1bn by 2024
The Minerals Income Investment Fund (MIIF) has defied global economic challenges, witnessing impressive growth in just 18 months.
From a circa of $125 million dollars in October 2021, the fund’s Assets Under Management (AUM) are on track to reach $1 billion by January 2024.
MIIF attributes this growth to a strategic focus on expanding royalties, optimizing gold sector performance, and effective asset allocation.
Established in 2018 by President Nana Addo Dankwa Akufo Addo, MIIF aims to manage government equity interests in mining companies, invest minerals-related royalties and dividends, and reduce Ghana’s exposure to minerals income volatility.
Expanding its income base beyond gold, MIIF has ventured into non-gold minerals like manganese, salt, sand, limestone, and quarrying activities.
Through an inter-agency framework and task force, the fund enhanced royalty collection and communication. A geo-mapping and monitoring system tracks mining activities for accurate royalty payments.
MIIF’s diversification approach also extends to other minerals. The fund invested $40 million in Asante Gold Corporation, contributing to over 40% Ghanaian ownership in international mines.
Initiatives like the Small Scale Mining Incubation Program (SSMIP) support responsible mining practices, corporate governance, and formalization of the small-scale gold mining sector.
Additionally, MIIF’s collaboration with the Ghana Stock Exchange (GSE) aims to list mineral-related investments, including a gold-backed Exchange-Traded Fund (ETF). Moreover, the fund engages in capacity building, local content development, and educational initiatives to foster a sustainable mining ecosystem.
As MIIF pursues long-term goals, its focus on value chain expansion, responsible mining, and sustainable development position it as a transformative force in Ghana’s mining sector, with the potential to benefit future generations.
