Minerals Commission raises concerns over Prestea-Bogoso Mine’s operational transition

The Minerals Commission in a statement released on Tuesday, January 30, 2024, has raised concerns regarding Prestea-Bogoso Mine’s operational transition by Future Global Resources (FGR).

The Minerals Commission in the statement brought to light some developments regarding the Prestea-Bogoso Mine.

FGR Bogoso Prestea Ltd, the current operators of the mine, reportedly presented a verbal proposal to the Ministry of Lands and Natural Resources to place the mine under Care and Maintenance status.

While acknowledging FGR Bogoso Prestea Ltd’s control over the Prestea-Bogoso Mine, along with its principal shareholder, Blue International Holdings Limited, based in the United Kingdom, the Minerals Commission emphasized the absence of any formal application or request from FGR regarding the proposed operational transition.

Highlighting the regulatory framework outlined in section 51 of the Minerals and Mining Act, 2006 (Act 703), the Commission underscores the necessity for the Mining Lease holder to serve a formal notice to suspend production to the Minister—a requisite yet to be fulfilled by FGR.

Moreover, the Commission says it is cognizant of the mining operations’ halt in December 2023, attributed to operational challenges. Notably, the Commission had issued a Notice to FGR in August 2023, prompting the company to address identified breaches of the Mining Lease. With the expiration of the notice period in December 2023, the Commission is poised to advise the Minister on subsequent actions.

The Minerals Commission in its statement, reassured the public of its unwavering commitment to the effective management of Ghana’s mineral resources.

Emphasizing the protection of mining investments, job security, local economic sustainability, community development, and revenue generation, the Commission pledges to prioritize the interests of the people of Ghana amidst the evolving landscape of the Prestea-Bogoso Mine.