New Operator of Prestea Mine Kicks against FGR Lease Termination

Blue Gold Bogoso Prestea Limited has opposed the termination of the mining lease of FGR Bogoso Prestea by the Ministry of Lands and Natural Resources.

In a press statement, the company noted that the information had not been formally communicated to it.

It added, “Furthermore, we wish to state that the grounds for any such termination would be strongly disputed by the company, and while any such dispute is ongoing the mining leases remain fully valid and the property of the company.”

The company is weighing its options in pursuing legal action against the government in that regard.

“We, therefore, take this opportunity to assure all our workers on site to remain calm and go about their duties as the process of termination of a mining lease is subject to prescribed legal procedures to protect the interests of all stakeholders and ensure that due process is followed.”

Blue Gold Bogoso Prestea Limited acquired the Bogoso and Prestea gold mining leases from FGR Bogoso Prestea Limited in May 2024

Termination
The Minister for Lands and Natural Resources, Samuel Abu Jinapor in a statement on September 17 announced the termination of the mining licences of FGR Bogoso Prestea Limited, in accordance with Article 88 of the Constitution, sections 5(1), 68(1), and 100(2) of the Minerals and Mining Act, 2006 (Act 703), and Regulation 200(1) of the Minerals and Mining (Licensing) Regulations, 2012 (L.I. 2176).

He said the decision was taken after reviewing various reports to review the operations of the Company and after extensive engagement with all stakeholders involved in this matter.

The Minister has since directed the Minerals Commission to engage prospective investors to revamp the Mine as soon as practicable to bring back economic activities associated with mining in the area.

Source: opemsuo.com/Hajara Fuseini