The Government of Ghana has received a GH¢391.2 million (US$35 million) dividend from Perseus Mining (Ghana) Limited, Finance Minister Dr Cassiel Ato Forson has announced.

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

Dr Forson announced the development in a post on his official Facebook page on Tuesday, September 1, describing the increase as a reflection of the company’s strong profitability.

“On behalf of the Government and people of Ghana, I thank Perseus Mining (Ghana) Limited for presenting GH¢391,195,000.00 (US$35 million) dividend to the state—up from US$5 million last year,” he said.

“This strong increase reflects the company’s profitability.”

The Finance Minister said the payment demonstrates the government’s efforts to ensure that the country derives greater value from its natural resources.

He cited the sliding-scale royalty system as one of the measures introduced to align government revenue from mining with the performance of companies and prevailing commodity prices.

“Ghana must receive its fair share from the extractive sector,” Dr Forson said.

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

The system adjusts royalty rates in response to changes in gold prices and the profitability of mining operations.

The dividend comes as the government continues efforts to raise domestic revenue and strengthen the country’s fiscal position.

The additional funds are expected to provide resources for government expenditure, although the Finance Ministry has not yet disclosed how the proceeds will be allocated.

The payment also comes amid broader calls for Ghana to retain a greater share of the value generated from its mineral resources.

Perseus Mining (Ghana) Limited is among the major gold producers operating in the country, with mining operations in the Ashanti and Western Regions.