This announcement was made public through a statement issued by the Minister of Lands and Natural Resources, Samuel Abu Jinapor, on Wednesday, 18th September 2024.
FGR had been previously warned in August 2023 about various violations in its operations, with the Minerals Commission urging the company to address these issues.
However, after further review, it appears that the necessary corrective measures were not adequately implemented.
The statement emphasised that the decision to cancel the leases was based on detailed evaluations of several reports from the Minerals Commission, alongside findings from a Ministerial Committee tasked with investigating the company's operations.
The decision followed "extensive engagement with all stakeholders involved in this matter." The termination comes in the wake of increasing pressure from various quarters, including the Ghana Mine Workers Union.
More than 400 union members staged a protest at the Ministry of Lands and Natural Resources, calling for the leases to be revoked.
Their complaints included poor working conditions and the company's failure to address key financial and operational shortcomings, particularly its inability to meet debt obligations.
Detecting gold mining in Ghana Google In the announcement, Minister Jinapor reiterated the government's commitment to the sustainable and efficient management of Ghana's natural resources, stating that this would be conducted with "transparency, anchored on integrity and utmost good faith, for the benefit of the Ghanaian people." Meanwhile, Blue Gold Bogoso Prestea Limited, the new operators of the FGR Bogoso and Prestea mines has kicked against the Ministry of Lands and Natural Resources' decision, insisting that the "mining leases remain fully valid and the property of the company." The company has hinted at resorting to the court to challenge the mining lease termination.