Finance Minister hails Perseus Mining's GH¢391m dividend to the state

Finance Minister Dr Cassiel Ato Forson has welcomed a significant increase in dividend payments from Perseus Mining (Ghana) Limited, which has presented GH¢391.195 million, equivalent to approximately US$35 million, to the Government of Ghana.

The latest payment represents a sharp increase from the US$5 million dividend paid by the mining company to the state in the previous year.

Dr Ato Forson announced the development in a post on his official Facebook page, where he thanked Perseus Mining for the increased payment on behalf of the government and people of Ghana.

“This strong increase reflects the company's profitability,” the Finance Minister said.

The Finance Minister used the announcement to reiterate the government’s position that Ghana should receive a fairer share of the revenues generated from the country’s natural resources.

He said this principle informed the government’s decision to introduce a sliding-scale system under which the state’s share increases as mining companies’ earnings and profitability rise.

“That is why we introduced the sliding-scale system: when mining companies earn more, the people of Ghana must benefit more,” Dr Forson said.

The policy forms part of broader efforts by the government to increase public revenue from Ghana’s extractive industries, particularly during periods when international commodity prices are favourable.

Perseus Mining operates in Ghana’s gold mining sector, and dividend payments to the state form part of the government’s returns from its interests in mining companies operating in the country.

The latest payment represents a sevenfold increase over the US$5 million received in the previous year.

The increase comes amid a period of strong gold prices, which have boosted the earnings and profitability of gold producers globally.

For Ghana, the development provides an opportunity to increase government revenue from the country’s gold resources at a time when the government is pursuing measures to strengthen domestic revenue mobilisation.

Dr Ato Forson has repeatedly argued that Ghana, as one of the world’s major gold-producing countries, should secure greater fiscal benefits from the profitability of its mining industry.

The Finance Minister’s latest comments are consistent with the government’s broader push to increase the state’s share of proceeds from the extractive sector.

The issue has featured prominently in government discussions and policy measures surrounding mining-sector reforms, particularly as gold prices remain elevated.

Under the government’s approach, improved profitability by mining companies is expected to translate into increased returns for the state and, ultimately, greater benefits for Ghanaians.

The GH¢391.195 million dividend from Perseus Mining therefore represents a significant increase in the state’s financial returns from the company and reinforces the government’s argument for mechanisms that allow Ghana to benefit more when mining revenues rise.