Northern Ashanti Mines Limited (NAML) has challenged the Minerals Commission’s justification for taking over its Konongo premises in Ghana, accusing the regulator of making false claims about its debt and mining activities.
The company invested more than $100 million in developing the mine since 2019. NAML disputes the Commission’s assertion that it had met the requirements of Section 68 of the Minerals and Mining Act, 2006 (Act 703).
NAML received no notice identifying a statutory breach before the revocation of its mining lease and prospecting licence. The company maintained that it had not received a notice referred to in a letter dated April 30, 2026, communicating the revocation.
NAML also challenged the Commission’s claim that the revocation related to debts of $8,332,000 and $49,000 associated with its mining lease and prospecting licence, respectively.
The company said an audit communication from the Commission in May 2026 put its debt at approximately $2.4 million. NAML argued that this was separate from a legacy debt of about $8.3 million attributed to the mine’s previous operator.
NAML had paid more than $1 million towards reducing its outstanding balance. The company requested time to settle its obligations because it was still developing the mine, including constructing a processing plant, and had not begun producing gold or earning revenue.
NAML rejected the claim that it had undertaken no meaningful mining operations on the concession for more than two years. The company argued that mine development and investment in processing infrastructure are essential to responsible mining.
NAML said the Commission had issued permits for projects, including a new processing plant and mining activities to stockpile ore ahead of full production. The company cited two permits issued on February 7 and February 17, 2026, both due to expire on December 31, 2026.
NAML maintained that it was carrying out mining activities under those permits. The company said it had turned to the courts to protect its investment and its ambition to build an indigenous mining business.
NAML alleged an emerging pattern of “horrible, unlawful takeovers” of Ghanaian-owned mining assets, which it accused the Commission of instigating or facilitating. Despite the dispute, NAML said it remained open to dialogue and a resolution that would protect confidence in Ghana’s mining investment environment.