The Minister for Lands and Natural Resources, Samuel A. Jinapor, has officially terminated the mining leases of FGR Bogoso Prestea Limited. This action follows recommendations from the Minerals Commission and the Attorney-General, adhering to the Constitution and the Minerals and Mining Act, 2006.
The decision to take action was made after a comprehensive review process initiated by the Ministry. Reports from the Minerals Commission and a Ministerial Committee, which were responsible for evaluating the company’s compliance, uncovered serious issues. FGR Bogoso Prestea Limited did not rectify the major breaches identified in a notice issued on August 14, 2023.
Despite a conditional approval granted on April 17, 2024, to raise capital and restructure, the company did not meet the stipulated conditions. These conditions included the immediate payment of outstanding worker salaries and providing evidence of sufficient financial resources to meet creditor obligations and maintain operations within 120 days.
A report from the Minerals Commission dated August 19, 2024, confirmed ongoing non-compliance, leading to the formation of an independent three-member committee. This committee’s findings, delivered on August 29, 2024, corroborated the Commission’s earlier observations.
In response, the Ministry has directed the Minerals Commission to take measures to address potential environmental impacts resulting from the lease termination. Additionally, the Commission is tasked with engaging potential investors to revitalize the mine and restore economic activities in the region.
