DISBURSEMENT 

According to Section 7 (f) of the MDF ACT, the MDF has the mandate to Disburse moneys of the Fund generally in accordance to Section 21

 

ACT, 2018

ACT, 2018 An ACT to establish a Fund to manage the equity interests of the Republic in mining companies, to receive mineral royalties and other related income due the Republic from mining operations, to provide for the management and investment of the assets of the Fund and for related matters.

Section 31 of the ACT, 2018 (ACT 978),  states that disbursement of moneys of the Fund shall, not later than three days after receipt of any mineral income, distribute the amount due and payable into the designated account of the Minerals Development Fund in accordance with the Minerals Development Fund Act, 2016 (Act 912).

 

DISBURSEMENT STATUS

In accordance to Paragraph (e) of section 7, the moneys received by the Fund from mineral royalty payments made to the Ghana Revenue Authority must be disbursed accordingly as stated by the MDF ACT.

Find below disbursements from September, 2018 till date:

DISBURSEMENTS FOR SEPTEMBER & OCTOBER 2018 (GH₵ 15,461,776.94)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (SEP&OCT 2018) 15,461,776.94
1 MDF Management Charges 2%                       309,235.54
Disbursement Balance 15,152,541.40
Management of Outstanding Projects 15%                    2,272,881.21
Disbursement Balance 12,879,660.19
2 Administrator of Stool Lands 50%                    6,439,830.10
3 Mining Community Development Scheme 20%                    2,575,932.04
4 Minerals Commission 13%                    1,674,355.82
5 Geological Survey Authority (GGSA) 8%                    1,030,372.82
6 Research, Training and Projects (GGSA 40%) 5%                       643,983.01
7 Ministry of Lands and Natural Resources 4%                       515,186.41
TOTAL 15,461,776.94

 

DISBURSEMENTS FOR NOVEMBER 2018 AND DECEMBER 2018 (GH₵ 21,724,845.46)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (NOV 2018 & DEC 2018) 21,724,845.46
1 Vehicle for MDF Board Activities       413,093.70
 Disbursement Balance 21,311,751.76
2 MDF Management Charges 2%                                       426,235.04
 Disbursement Balance 20,885,516.72
3 Management of Legacy Projects 15%                                    3,132,827.51
 Disbursement Balance 17,752,689.22
4 Administrator of Stool Lands 50%                                    8,876,344.61
5 Mining Community Development Scheme 20%                                    3,550,537.84
6 Minerals Commission 13%                                    2,307,849.60
7 Geological Survey Authority (GGSA) 8%                                    1,420,215.14
8 Research, Training and Projects (GGSA 40%) 5%                                       887,634.46
9 Ministry of Lands and Natural Resources 4%                                       710,107.57
TOTAL 21,724,845.46

 

DISBURSEMENTS FOR JANUARY 2019  (GH₵ 8,070,656.33)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (NOV 2018 TO JAN 2019) 8,070,656.33
1 MDF Management Charges 2%                         161,413.13
Disbursement Balance 7,909,243.20
2 Management of Legacy Projects 15%                      1,186,386.48
Disbursement Balance 6,722,856.72
3 Administrator of Stool Lands 50%                      3,361,428.36
4 Mining Community Development Scheme 20%                      1,344,571.34
5 Minerals Commission 13%                         873,971.37
6 Geological Survey Authority (GGSA) 8%                         537,828.54
7 Research, Training and Projects (GGSA 40%) 5%                         336,142.84
8 Ministry of Lands and Natural Resources 4%                         268,914.27
TOTAL 8,070,656.33

 

DISBURSEMENTS FOR FEBRUARY & MARCH 2019  (GH₵ 14,966,301.20)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (FEB 2019 TO MAR 2019) 14,966,301.20
1 MDF Management Charges 2%             299,326.02
Disbursement Balance 14,666,975.18
2 Management of Legacy Projects 15%          2,200,046.28
Disbursement Balance 12,466,928.90
3 Administrator of Stool Lands 50%          6,233,464.45
4 Mining Community Development Scheme 20%          2,493,385.78
5 Minerals Commission 13%          1,620,700.76
6 Geological Survey Authority (GGSA) 8%             997,354.31
7 Research, Training and Projects (GGSA 40%) 5%             623,346.44
8 Ministry of Lands and Natural Resources 4%             498,677.16
TOTAL 14,966,301.20

 

DISBURSEMENTS FOR APRIL & MAY 2019 (GH₵ 19,733,189.73)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (APR 2019 TO MAY 2019) 19,733,189.73
1 MDF Management Charges 2%           394,663.79
Disbursement Balance 19,338,525.94
2 Management of Legacy Projects 15%        2,900,778.89
Disbursement Balance 16,437,747.05
3 Administrator of Stool Lands 50%        8,218,873.52
4 Mining Community Development Scheme 20%        3,287,549.41
5 Minerals Commission 13%        2,136,907.12
6 Geological Survey Authority (GGSA) 8%        1,315,019.76
7 Research, Training and Projects (GGSA 40%) 5%           821,887.35
8 Ministry of Lands and Natural Resources 4%           657,509.88
TOTAL 19,733,189.73

 

DISBURSEMENTS FOR JUNE 2019  (GH₵ 9,349,114.61)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (JUNE 2019) 9,349,114.61
1 MDF Management Charges 2%                    186,982.29
Disbursement Balance 9,162,132.32
2 Management of Legacy Projects 15%                 1,374,319.85
Disbursement Balance 7,787,812.47
3 Administrator of Stool Lands 50%                 3,893,906.24
4 Mining Community Development Scheme 20%                 1,557,562.49
5 Minerals Commission 13%                 1,012,415.62
6 Geological Survey Authority (GGSA) 8%                    623,025.00
7 Research, Training and Projects (GGSA 40%) 5%                    389,390.62
8 Ministry of Lands and Natural Resources 4%                    311,512.50
TOTAL 9,349,114.61

 

 

DISBURSEMENTS FOR JULY 2019  (GH₵ 9,224,009.56)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (JULY 2019) 9,224,009.56
1 MDF Management Charges 2%                    184,480.19
Disbursement Balance 9,039,529.37
2 Management of Legacy Projects 15%                 1,355,929.41
Disbursement Balance 7,683,599.96
3 Administrator of Stool Lands 50%                 3,841,799.98
4 Mining Community Development Scheme 20%                 1,536,719.99
5 Minerals Commission 13%                    998,868.00
6 Geological Survey Authority (GGSA) 8%                    614,688.00
7 Research, Training and Projects (GGSA 40%) 5%                    384,180.00
8 Ministry of Lands and Natural Resources 4%                    307,344.00
TOTAL 9,224,009.56

 

DISBURSEMENTS FOR AUGUST 2019 (GH₵ 9,709,643.09)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (AUGUST 2019) 9,709,643.09
1 MDF Management Charges 2%                 194,192.86
Disbursement Balance 9,515,450.23
2 Management of Legacy Projects 15%              1,427,317.53
Disbursement Balance 8,088,132.69
3 Administrator of Stool Lands 50%              4,044,066.35
4 Mining Community Development Scheme 20%              1,617,626.54
5 Minerals Commission 13%              1,051,457.25
6 Geological Survey Authority (GGSA) 8%                 647,050.62
7 Research, Training and Projects (GGSA 40%) 5%                 404,406.63
8 Ministry of Lands and Natural Resources 4%                 323,525.31
TOTAL 9,709,643.09

 

DISBURSEMENTS FOR JULY & SEPTEMBER 2019  (GH₵ 10,754,192.07)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (JUL & SEP 2019) 10,754,192.07
1 Support to Mining Communities (Covid-19) 500,000.00
 Disbursement Balance 10,254,192.07
2 MDF Management Charges 2%            205,083.84
Disbursement Balance 10,049,108.23
3 Management of Legacy Projects 15%         1,507,366.23
Disbursement Balance 8,541,741.99
4 Administrator of Stool Lands 50%         4,270,871.00
5 Mining Community Development Scheme 20%         1,708,348.40
6 Minerals Commission 13%         1,110,426.46
7 Geological Survey Authority (GGSA) 8%            683,339.36
8 Research, Training and Projects (GGSA 40%) 5%            427,087.10
9 Ministry of Lands and Natural Resources 4%            341,669.68
TOTAL 10,754,192.07

 

DISBURSEMENTS FOR OCTOBER TO DECEMBER 2019  (GH₵ 38,458,139.27)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release (OCT – DEC 2019) 38,458,139.27
1 MDF Management Charges 2%            769,162.79
Disbursement Balance 37,688,976.48
2 Management of Legacy Projects 15%         5,653,346.47
Disbursement Balance 32,035,630.01
3 Administrator of Stool Lands 50%       16,017,815.01
4 Mining Community Development Scheme 20%         6,407,126.00
5 Minerals Commission 13%         4,164,631.90
6 Geological Survey Authority (GGSA) 8%         2,562,850.40
7 Research, Training and Projects (GGSA 40%) 5%         1,601,781.50
8 Ministry of Lands and Natural Resources 4%         1,281,425.20
TOTAL 38,458,139.27

 

DISBURSEMENT AMOUNT  (GH₵ 27,248,640.00)
No
MDF Beneficiaries
Percentage (%)
Amount (GH₵)
Total Release 27,248,640.00
1 MDF Management Charges 2%                  544,972.80
Disbursement Balance 26,703,667.20
2 Management of Legacy Projects 15%               4,005,550.08
Disbursement Balance 22,698,117.12
3 Administrator of Stool Lands 50%             11,349,058.56
4 Mining Community Development Scheme 20%               4,539,623.42
5 Minerals Commission 13%               2,950,755.23
6 Geological Survey Authority (GGSA) 8%               1,815,849.37
7 Research, Training and Projects (GGSA 40%) 5%               1,134,905.86
8 Ministry of Lands and Natural Resources 4%                  907,924.68
TOTAL 27,248,640.00

 

Disbursement of ceded revenue to the Minerals Development Fund for January and February, 2020
Amount ceded for January and February, 2020 GH₵ 14,652,116.22
No
MDF Beneficiaries
Percentage (%)
Amount GH¢
1 MDF Management 2% 293,042.32
Total Release (January & February) 14,359,073.89
2 Outstanding Project 15% 2,153,861.08
Disbursement balance 12,205,212.80
3 Administrator of Stool Lands 50% 6,102,606.40
4 Mining Community 20% 2,441,042.57
5 Minerals Commission 13% 1,586,677.67
6 Geological survey Department (GGS) 8% 976,417.02
7 RESEARCH, TRAINING AND PROJECTS 5% 610,260.65
8 Ministry of Lands and Natural Resources 4% 488,208.51
TOTAL 14,652,116.22

 

Disbursement Minerals Development Fund for March 2020
Amount ceded for March 2020 GH₵ 7,341,019.00
No
MDF Beneficiaries
Percentage (%)
Amount GH¢
1 MDF Management 2% 146,820.38
Disbursement Balance 7,194,198.62
2 Outstanding Projects 15% 1,079,129.79
Disbursement Balance 6,115,068.83
3 Administrator of Stool Lands 50% 3,057,534.41
4 Mining Community 20% 1,223,013.77
5 Minerals Commission 13% 794,958.95
6 Geological survey Department (GGS) 8% 489,205.51
7 Research, Training and Projects 5% 305,753.44
8 Ministry of Lands and Natural Resources 4% 244,602.75
TOTAL 7,341,019.00
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