The Lands and Natural Resources Minister, Samuel Abu Jinapor has terminated the mining leases granted to FGR Bogoso Prestea Limited, an official statement has said.
The termination is based on the advice and recommendation of the Minerals Commission and the Attorney General pursuant to 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).
The Minister of Lands and Natural Resources in April warned it will terminate the mining lease of Future Global Resources (FGR) which operates the Bogoso and Prestea Mines it acquired in October, 2020 from Golden Star Resources.
The company had earlier been given 120 days to revamp the mines and also pay all outstanding salaries within two weeks.
Operations at the mine came to a halt in December 2023 due to financial challenges leaving workers salaries unpaid.
A statement issued by the Lands Ministry on Wednesday (18 September) said the Minerals Commission has been directed to issue a notice of termination to the company.
”The Minister responsible for Lands and Natural Resources, Hon. Samuel A. Jinapor, MP, acting on the advice and recommendation of the Minerals Commission and the Attorney-General, pursuant to 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), has terminated the mining leases granted to FGR Bogoso Prestea Limited (the Company), and directed the Minerals Commission to issue a notice of termination to the Company, in accordance with regulation 200(4) of L.I. 2176.
”The decision to terminate the mining leases was taken after reviewing various reports from the Minerals Commission as well as a Ministerial Committee constituted to review the operations of the Company, and after extensive engagement with all stakeholders involved in this matter.”
”It would be recalled that on 14th August, 2023, the Minerals Commission issued a notice to the Company, pursuant to regulation 200(3) of L.I. 2176, to remedy breaches of the terms of its Mining Leases,” the statement said.
Below is the full statement:
Press Release (2) (1) by leroyhawkson on Scribd
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