Northern Ashanti Mines Limited has rejected the Minerals Commission's claim of a lawful takeover of its Konongo concession in Ghana. The company describes the Commission's statement as loaded with "falsehoods, untruths and half-truths".
The dispute is over the termination of NAML's mining leases and prospecting licences.
The Minerals Commission said it acted in accordance with the Minerals and Mining Act, 2006, and the Minerals and Mining Regulations, 2012. NAML owed US$8.33 million in outstanding Annual Mineral Right Fees and US$49,928 for prospecting licences. The company denies the Commission's claims, saying it has paid over US$1 million to reduce its arrears.
The takeover has significant implications for Ghana's mining industry, with NAML employing about 400 workers. The company has invested over US$200 million in the mine since 2020. The dispute is now before the court, with NAML seeking to protect its investment and ambitions to build an indigenous Ghanaian mining company.
The Minerals Commission's actions have been criticized by NAML, which says the Commission's account is inaccurate and driven by an ulterior motive. The company says it remains open to dialogue and a process that will not sour the investment climate for mining in Ghana. The case has sparked concerns about the investment climate in Ghana's mining sector.
NAML's rejection of the Minerals Commission's claim is a significant development in the dispute. The company's investment in the mine and its employment of Ghanaian workers make it a crucial player in the country's mining industry. The outcome of the court case will have significant implications for NAML, the Minerals Commission, and the broader mining sector in Ghana.