Perseus Mining (Ghana) Limited has paid GH¢391.195 million (US$35 million) in dividends to the Government of Ghana, a significant increase from the US$5 million paid to the state last year.
The payment was announced by the Ministry of Finance, which attributed the increase to the mining company’s improved profitability.
Finance Minister, Dr. Cassiel Ato Forson said the higher dividend reflects its position that Ghana should receive a fairer share of the value generated from the country’s mineral resources.
He said the increase is also consistent with the sliding-scale system introduced for the mining sector, under which the state’s share is expected to rise when mining companies record stronger earnings.
“Ghana must receive its fair share from the extractive sector,” the Minister said.
The Ministry added that the system is intended to ensure that increased profitability in the mining industry translates into greater returns for the Ghanaian people.
The latest payment represents a substantial increase in Perseus Mining’s dividend contribution to the state, rising from US$5 million last year to US$35 million this year.