In recent developments, the Minerals Commission has brought to light the verbal presentation made by FGR Bogoso Prestea Ltd, the operators of the Prestea-Bogoso Mine, expressing their intention to place the mine under Care and Maintenance.
The Prestea-Bogoso Mine, currently under the control of FGRBogoso Prestea Ltd and its principal shareholder, Blue International Holdings Limited, has been subject to operational challenges, leading to the temporary stoppage of mining operations in December 2023. This has raised concerns and prompted the Minerals Commission to address the situation.
Contrary to the recent verbal presentation made by FGR Bogoso Prestea Ltd to the Ministry of Lands and Natural Resources, the Minerals Commission has clarified that neither the Ministry nor the Commission has received a formal application or request for Care and Maintenance.
According to section 51 of the Minerals and Mining Act, 2006 (Act 703), the holder of the Mining Lease is required to serve a notice to the Minister in case of a suspension of production. As of now, no such formal request has been submitted to the Minister.
The Commission has been actively monitoring the situation and has issued a Notice to FGR in August 2023, asking them to show cause why the Mining Lease should not be terminated. This decision was based on identified breaches of the Mining Lease. The notice had a stipulated expiration date in December 2023, and the Commission is expected to advise the Minister on the next steps following the expiration of the Notice period.
Commitment to Effective Management
The Minerals Commission wants to assure the public of its unwavering commitment to ensuring the effective and efficient management of the country’s mineral resources. This commitment extends to safeguarding mining investments, particularly in the case of the Prestea-Bogoso Mine.
The Commission emphasizes the importance of protecting jobs, supporting the local Prestea economy, contributing to community development, and generating revenue for the benefit of the people of Ghana.
Additionally, the Minerals Commission acknowledges the challenges that led to the temporary stoppage of mining operations in December 2023. These operational difficulties, which played a role in FGR Bogoso Prestea Ltd’s consideration of placing the mine under Care and Maintenance, underline the importance of a thorough and comprehensive evaluation of the situation.
The Commission recognizes the complexities involved and underscores its commitment to diligently assess the current state of the Prestea-Bogoso Mine, taking into account all relevant factors, before making any decisions that could have lasting implications for the mining industry and the broader Ghanaian community. This approach aligns with the Commission’s overarching goal of fostering a sustainable and responsible mining sector that benefits both investors and the local populace alike.
As the situation surrounding the Prestea-Bogoso Mine unfolds, the Minerals Commission remains vigilant in its commitment to responsible and transparent management of the mining industry. The Commission emphasizes the adherence to legal procedures and regulations in addressing any potential suspension of production and termination of Mining Leases.
The decisions taken will be guided by the best interests of the country, considering the impact on jobs, local economies, and the overall well-being of the Ghanaian people.
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