The Economic and Organised Crime Office (EOCO) has launched an investigation into alleged fraudulent activities surrounding the acquisition of the Prestea-Bogoso Mine by Heath Goldfields Ltd.
The agency has also directed the freezing of the transaction pending the outcome of the inquiry.
The mine, previously owned by Future Global Resources (FGR), was transferred to Heath Goldfields Ltd, a Ghanaian company, in November 2024 after the government approved the acquisition.
This move was reportedly aimed at revitalizing the mine, protecting jobs, and preventing environmental degradation following its closure in December 2023.
However, EOCO’s investigation stems from claims of irregularities in the acquisition process.
Notably, Heath Goldfields Ltd was incorporated on February 6, 2024, with a stated capital of GH¢10,000.
FGR, which had acquired the mine from Golden Star Resources in October 2020, disputes the transfer and alleges the mine was taken from them just weeks before their planned listing on the New York Stock Exchange.
FGR has formally issued a notice of dispute to the Ministry of Lands and Natural Resources, the Minerals Commission, and other stakeholders.
The company is reportedly pursuing legal action to halt the transaction.
In a letter dated December 23, 2024, EOCO instructed the Minerals Commission to provide all documents related to the acquisition under Section 19 of the EOCO Act, 2010 (Act 804).
The letter further invoked Section 33 of the Act, which empowers EOCO to freeze transactions during investigations.
Meanwhile, the Ghana Mineworkers Union (GMWU) has expressed support for the government's decision to issue mining leases to Heath Goldfields Ltd.
Abdul-Moomin Gbana, General Secretary of GMWU, stated that the union is optimistic about the new management’s potential to revive the mine and address longstanding issues, including unpaid statutory obligations since 2021.
“The Ghana Mineworkers Union rejects claims by FGR/Blue Gold aimed at undermining efforts to revamp the Bogoso/Prestea Mines,” the union's statement said.
As investigations continue, EOCO’s intervention highlights the complexities of ownership transitions in Ghana's mining sector, raising critical questions about due diligence and transparency in high-stakes transactions.
Story by: Think News Desk
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