Blue Gold refutes termination of Bogoso Prestea mining lease

Blue Gold has refuted claims from the Ministry of Lands and Natural Resources regarding the termination of its mining lease for FGR Bogoso Prestea Mines.

In a statement issued today, the company disclosed that it had not received any formal communication about the alleged termination, which was reported to have taken effect on September 3, 2024.

The company emphasized that any grounds for such termination would be strongly contested.

“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, the statement said.

Blue Gold assured stakeholders that, pending any legal disputes, the mining leases remain fully valid and legally binding.

“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 have shown,” the statement added.