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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 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).
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 MINERALS DEVELOPMENT FUND (JANUARY & FEBRUARY 2020)
Amount ceded for January and February, 2020: GH¢ 14,652,116.22
| NO | MDF BENEFICIARIES | PERCENTAGE (%) | AMOUNT (GH¢) | |
|---|---|---|---|---|
| Total Release | 14,652,116.22 | |||
| 1 | MDF Management Charges | 2% | 293,042.32 | |
| Disbursement Balance | 14,359,073.89 | |||
| 2 | Outstanding Projects | 15% | 2,153,861.08 | |
| Disbursement Balance | 12,205,212.80 | |||
| 3 | Administrator of Stool Lands | 50% | 6,102,606.40 | |
| 4 | Mining Community Development Scheme | 20% | 2,441,042.57 | |
| 5 | Minerals Commission | 13% | 1,586,677.67 | |
| 6 | Geological Survey Authority (GGSA) | 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 OF MINERALS DEVELOPMENT FUND (MARCH 2020)
Amount ceded for March 2020: GH¢ 7,341,019.00
| NO | MDF BENEFICIARIES | PERCENTAGE (%) | AMOUNT (GH¢) | |
|---|---|---|---|---|
| Total Release | 7,341,019.00 | |||
| 1 | MDF Management Charges | 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 (GSD) | 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 | |||