Perseus Mining pays GH¢73m dividend to state

Perseus Mining pays GH¢73m dividend to state

Perseus Mining (Ghana) Limited has paid a dividend of GH₵73.5million – approximately US$5million –  to government for the 2024 financial year.

Perseus declared a total dividend of US$50million for the 2024 financial year. The state has a 10 percent carried interest through the Ministry of Lands and Natural Resources.

Speaking during the presentation of a symbolic cheque to the state in Accra, Managing Director-Perseus Mining Jeff Quartermaine said the company’s ability to pay dividends had been made possible by excess profits and favourable global gold prices, following a period of debt repayment.

He expressed gratitude to government for its support and assured that the company is in a position to meet its responsibilities going forward.

Receiving the payment on behalf of the acting Director-General of the State Interest and Governance Authority (SIGA), Professor Kpessa Whyte, acting General Manager-Operations, SIGA, Millicent Atuguba lauded  the company’s gesture – citing it as an example of good governance and operational efficiency.

She noted the importance of accountability and returns on public investment under government’s reset agenda.

The event was attended by Board Chairman-Perseus Mining Company Limited, Ehunabobrim Prah Agyensaim, other board members and SIGA officials.

Keen to increase investments

Mr. Quartermaine said his outfit’s strong financial performance means that it is in a better position to increase its investment in the country.

“We are very keen to expand our investment in Ghana as and when the right opportunities present themselves,” he said, adding that efforts are also under way to extend their existing mine’s life.

Currently, Perseus operates the Edikan gold mine in the Ashanti gold belt.

The mine has produced more than 2 million ounces of gold since commencing commercial production in 2012. Based on current ore reserves, Perseus will recover a further 1.3 million ounces of gold from Edikan over the remaining mine life.

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