A private legal practitioner, Martin Kpebu, has launched a fierce critique of the government’s handling of the Bogoso-Prestea gold mine, calling for the immediate termination of the lease held by Heath Goldfields Limited over what he describes as serious breaches, misrepresentation, and threats to Ghana’s national interest.
Addressing the media on behalf of concerned stakeholders, Mr. Kpebu questioned the decision-making process behind the award of the mining lease, accusing state authorities of failing in their duty to safeguard the country’s mineral resources.
He argued that the Bogoso-Prestea mine, situated within the resource-rich Ashanti Greenstone Belt, is far too strategic to be entrusted to what he characterized as an underperforming and under-resourced operator.
According to him, the continued control of the mine by Heath Goldfields poses a direct risk to jobs, local economies, and national revenue, leaving residents of the Prestea-Huni Valley area at a disadvantage.
“This is not just a contractual issue; it is a matter of national interest and accountability,” he stressed.
Political Questions Over Lease Approval
Mr. Kpebu raised concerns about the circumstances under which the lease was granted in December 2024 by then Lands Minister Samuel Abu Jinapor. He noted that the approval came during a transitional period when there were reportedly directives to suspend such agreements.
He described the decision as “deeply troubling,” suggesting it raises serious governance and transparency concerns that require scrutiny at the highest levels.
He further criticized regulators, including the Minerals Commission, for what he sees as a failure to enforce compliance despite multiple alleged breaches by the company.
“Investment Mirage” and Broken Promises
Central to the dispute is what Mr. Kpebu termed an “investment mirage,” referring to the unfulfilled promise of a $500 million financial backing from Yilmaden Holding, linked to the Yildirim Group.
He argued that there is no verifiable evidence supporting the existence of such funding, describing the claim as misleading and a major factor behind the mine’s inactivity.
“The figures were used to secure the lease, but the reality on the ground tells a completely different story,” he said.
Non-Performance and Regulatory Breaches
Citing reports from the Minerals Commission, Mr. Kpebu outlined several alleged failures by Heath Goldfields, including the inability to restart operations within stipulated timelines and worsening conditions at the site, such as flooded underground shafts and deteriorating infrastructure.
He pointed out that a 120-day notice issued to the company to rectify these issues had expired without meaningful compliance.
The lawyer also criticized a $65 million financing agreement between Heath Goldfields and commodities firm Trafigura, describing it as a risky move to collateralize Ghana’s mineral resources.
He warned that such an arrangement could place national assets at risk without parliamentary approval, potentially violating constitutional provisions.
“This is how sovereign assets are quietly mortgaged. It must not be allowed,” he cautioned.
Call for Immediate Government Action
Mr. Kpebu has called on the current Lands Minister, Emmanuel Armah Kofi Buah, to take decisive action by invoking Section 68 of the Minerals and Mining Act to terminate the lease.
He argued that failure to act would embolden non-compliance and further weaken public confidence in the government’s oversight of the mining sector.
Framing the issue as a test of leadership, he said authorities must choose between protecting Ghana’s strategic resources or allowing what he described as a repeat of past failures, referencing the collapse of operations under previous operators.
“The people of Prestea deserve better. Ghana deserves better,” he concluded.
The Minerals Commission is currently conducting a final assessment, but mounting political pressure suggests that the future of the Bogoso-Prestea mine may soon become a major national issue.
