Prestea-Bogoso Mine: FGR owes $111m in unpaid debts, taxes; fails to make 30 months SSNIT payments for workers

Prestea-Bogoso Mine: FGR owes $111m in unpaid debts, taxes; fails to make 30 months SSNIT payments for workers

Operator of the Prestea-Bogoso Mine, Future Global Resources (FGR) is reportedly owing over $111 million in unpaid debts, taxes, and bills.

This is aside from the company’s failure to make SSNIT and Tier 2 payments for its workers for over 30 months respectively.

This is per information available to norvanreports.

Workers of the Prestea-Bogoso Mine along with the residents of the surrounding communities, are requesting for the dissolution of the current Board of the FGR.

Further calling on the Minerals Commission and the Lands and Natural Resources Ministry to “save” the mine from FGR.

The Minerals Commission in a statement issued on Tuesday, raised concerns regarding Prestea-Bogoso Mine’s operational transition by Future Global Resources (FGR).

The Minerals Commission in the statement brought to light some developments regarding the Prestea-Bogoso Mine.

FGR Bogoso Prestea Ltd, the current operators of the mine, reportedly presented a verbal proposal to the Ministry of Lands and Natural Resources to place the mine under Care and Maintenance status.

While acknowledging FGR Bogoso Prestea Ltd’s control over the Prestea-Bogoso Mine, the Minerals Commission emphasized the absence of any formal application or request from FGR regarding the proposed operational transition.

Highlighting the regulatory framework outlined in section 51 of the Minerals and Mining Act, 2006 (Act 703), the Commission underscored the necessity for the Mining Lease holder to serve a formal notice to suspend production to the Minister—a requisite yet to be fulfilled by FGR.

Moreover, the Commission says it is cognizant of the mining operations’ halt in December 2023, attributed to operational challenges. Notably, the Commission had issued a Notice to FGR in August 2023, prompting the company to address identified breaches of the Mining Lease.

With the expiration of the notice period in December 2023, the Commission is poised to advise the Minister on subsequent actions.

Meanwhile, the Minerals Commission has assured the public of its unwavering commitment to the effective management of Ghana’s mineral resources and the resolution of the matter.

“The Commission wishes to assure the public of its unflinching commitment to ensure the effective and efficient management of the mineral resources of the country, the protection of mining investment in general and the Prestea Bogoso Mine in particular to protect jobs, the local Prestea economy, community development as well as revenue generation for the benefit of the good people of Ghana,” the Commission noted.