Ghana Receives US$35 Million Dividend from Perseus Mining, Sevenfold Jump from Last Year
Government cites sliding-scale royalty system as gold revenue surges
Ghana's Finance Minister, Dr. Cassiel Ato Forson, has announced that the state received a GH¢391,195,000.00 (US$35 million) dividend payment from Perseus Mining (Ghana) Limited — a sevenfold increase from the US$5 million the company paid the previous year.
Dr. Forson disclosed the payment in a statement on Tuesday, September 1, describing it as a direct reflection of the gold miner's improved profitability over the past year.
"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, adding that the "strong increase reflects the company's profitability."
Sliding-scale system credited for bigger state take
The Finance Minister linked the sharp rise in state revenue to Ghana's sliding-scale royalty framework, which adjusts the rate mining companies pay based on gold prices and company profitability — meaning government revenue rises in step with a miner's earnings rather than staying fixed.
"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 framework is one of several measures the government has pointed to as part of a broader push to secure greater value from the country's natural resources, particularly as gold prices have climbed and mining profits across the sector have surged.
Strong year for Perseus Mining
Australian-listed Perseus Mining, which operates the Edikan mine in Ghana alongside operations in Côte d'Ivoire and Tanzania, reported a sharp jump in profitability for its 2026 financial year on the back of higher gold prices. The company posted record shareholder returns for the year, including a full-year dividend increase of 87 percent, and has separately flagged higher royalty costs in Ghana tied to the sliding-scale regime now in effect.
Perseus is one of several major gold producers operating in Ghana under sliding-scale royalty arrangements, alongside companies such as Gold Fields, whose Ghanaian operations carry royalty rates that move between roughly 3 and 5 percent depending on the prevailing gold price.
Part of a wider revenue push
The dividend comes as Ghana continues efforts to strengthen its fiscal position and boost domestic revenue collection. Government officials have repeatedly pointed to the extractive sector — and gold in particular, given record-high prices — as a key lever for shoring up state finances, with the additional funds expected to support government expenditure.