Government receives GH¢391m dividend from Perseus Mining

The Government of Ghana has received a substantial dividend of GH¢391.2 million (US$35 million) from Perseus Mining (Ghana) Limited, Finance Minister Dr Cassiel Ato Forson announced on Tuesday, September 1 via his official Facebook page. This significant increase from the US$5 million payout the mining company provided the previous year underscores the company's robust profitability.

Dr Forson expressed gratitude to Perseus Mining for the generous dividend, emphasizing how it reflects the company's strong financial performance. He attributed this increase to the government's sliding-scale royalty system, designed to align revenue with company earnings and commodity prices. This system adjusts royalty rates based on changes in gold prices and mining operations' profitability.

The Finance Minister stressed that Ghana should receive a fair share of revenue from the extractive sector, promising that the higher dividends will benefit the people of Ghana. The additional funds are expected to bolster government spending, although the Ministry of Finance has not yet specified how the funds will be allocated.

Moreover, the payment underscores broader calls for Ghana to retain a larger portion of the value generated from its mineral resources, which is a concern for many stakeholders. Perseus Mining (Ghana) Limited, a leading gold producer operating in the Ashanti and Western Regions of the country, is among the key contributors to this financial boost.