• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

EOCO Investigates Alleged Fraud in Prestea-Bogoso Mine Acquisition by Heath Goldfields Ltd

7 months ago
in Features, highlights, Home, home-news, latest News, Mining
1 min read
0 0
0
Golden Star Resources Prestea Gold Mine

Golden Star Resources Prestea Gold Mine

282
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

EOCO Investigates Alleged Fraud in Prestea-Bogoso Mine Acquisition by Heath Goldfields Ltd

The Economic and Organised Crime Office (EOCO) has launched an investigation into alleged fraud surrounding the acquisition of the Prestea-Bogoso Mine by Heath Goldfields Ltd, a local Ghanaian company, in November 2024.

The mine was previously owned by Future Global Resources (FGR), which acquired it from Golden Star Resources in 2020.

Background to the Acquisition

The Prestea-Bogoso Mine ceased operations in December 2023 due to reported financial challenges, including indebtedness to the Volta River Authority and GRIDCo, which led to a suspension of power supply. To address the mine’s challenges, the government approved its acquisition by Heath Goldfields Ltd in November 2024, citing the need to revamp the mine, protect jobs, restore economic activities, and mitigate environmental risks.

However, FGR has disputed the government’s decision, alleging irregularities in the transaction. The company, reportedly preparing to list on the New York Stock Exchange, claims its rights to the mine were unjustly terminated.

Allegations and EOCO’s Actions

One contentious issue is the incorporation of Heath Goldfields Ltd. The company was established on February 6, 2024, with a stated capital of GH¢10,000. Questions have been raised about its ability to undertake the acquisition and operate a mine of such scale.

Following allegations of fraud, EOCO directed the Minerals Commission to provide documentation related to the acquisition, citing its powers under Section 19 of the EOCO Act, 2010 (Act 804). The agency has also frozen the transaction pending the conclusion of investigations, as authorized by Section 33 of the Act.

Ghana Mine Workers Union’s Endorsement

Despite the controversies, the Ghana Mine Workers Union (GMWU) has commended the government for transferring the mine’s lease to Heath Goldfields Ltd. The union, in a statement signed by General Secretary Abdul-Moomin Gbana, expressed optimism that the new ownership would revamp the mine and ensure its sustainability.

The GMWU also dismissed claims by FGR, describing them as attempts to undermine the government’s efforts. The union highlighted that statutory payments, including pensions and provident fund contributions, have been in arrears since 2021 under FGR’s management, further justifying the need for change.

Next Steps

As EOCO proceeds with its investigation, the spotlight remains on the legitimacy of the acquisition process and the capacity of Heath Goldfields Ltd to deliver on its mandate. Meanwhile, stakeholders, including the GMWU, remain hopeful for a resolution that will secure the future of the Prestea-Bogoso Mine and its workers.

Tags: EOCOEOCO Investigates Alleged Fraud in Prestea-Bogoso Mine Acquisition by Heath Goldfields LtdHeath Goldfields LtdPrestea-Bogoso Mine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.