We’ll strongly dispute termination of FGR Bogoso and Prestea mining leases – Blue Gold

Blue Gold Bogoso Prestea Limited has indicated that it will resist the termination of the FGR Bogoso and Prestea mining leases by the Ministry of Lands and Natural Resources.

The new operators of the FGR Bogoso and Prestea mines said the Lands Ministry’s decision will be disputed because the “mining leases remain fully valid and the property of the company.”

A statement signed by the Lands Minister, Samuel Abu Jinapor, on Wednesday, September 18, 2024, indicated that 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.”

But Blue Gold, in response said the grounds for the termination are questionable and that “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.”

Below is Blue Gold’s response.

RE: TERMINATION OF FGR BOGOSO PRESTEA LIMITED MINING LEASE

The attention of Blue Gold has been drawn to a press release from the Ministry of Lands and Natural Resources today Wednesday September 18, 2024, in which it states that the sector minister has terminated the mining lease of FGR Bogoso Prestea Mines on 3 September 2024.

We wish to state that no such communication has been received by the company.

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.

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 is committed to the mine as our recent investments in the mine has shown.