Lands Minister approves sale of Prestea-Bogoso Mine to Health GoldFields

The Minister of Lands and Natural Resources, Hon. Samuel A. Jinapor, has approved the sale of the Prestea Bogoso Mine to Health GoldFields Ltd.

The decision, announced in an official letter dated November 12, 2024, followed the assessment of Health GoldFields’ technical and financial capacity to manage the mine effectively.

This transfer comes months after Future Gold Resources (FGR) was stripped of ownership of the Prestea Bogoso Mine due to undisclosed challenges.

By selecting Health GoldFields as the new owner, the Ministry aims to address pressing needs in the Prestea-Huni Valley area, including securing jobs, stabilizing the local economy, and mitigating environmental risks tied to the mine’s operations.

In his letter to the Chief Executive Officer of the Minerals Commission, Abu Jinapor highlighted the importance of Health GoldFields Ltd’s role in reviving the mine.

“Given the technical and financial capacity of Health GoldFields Ltd., and on your advice and recommendation, approval is hereby given for the grant of the Prestea Bogoso Mine to Health GoldFields Ltd., subject to compliance with the Minerals and Mining Act, 2006 (Act 703) and its Regulations, as well as the payment of appropriate fees,” he wrote.

The letter detailed the critical objectives for the transfer, including job security for the mine’s workforce and the restoration of economic stability in the surrounding communities.

The Minister emphasized the need to address potential environmental concerns that may have arisen during the mine’s closure.

“In view of the need to revamp the mine, secure the employment of its workers, restore economic activities to the area, and prevent any negative environmental impact arising from the closure of the mine, you are to take urgent steps, pursuant to Act 703 and its Regulations, to give effect to this approval,” stated tbe minister

Health GoldFields is expected to comply with the Minerals and Mining Act, 2006 (Act 703), as well as ensure that all environmental and community-related obligations are met under Ghanaian law.

The Ministry has tasked the Minerals Commission with overseeing a smooth transfer and providing guidance to Health GoldFields Ltd to fulfill its obligations under Act 703.