The deadline set by Ghana’s Ministry of Lands and Natural Resources for Future Global Resources (FGR) to restart operations at the Prestea and Bogoso mines has passed without the company meeting key conditions.
This 120-day deadline, established to ensure significant capital investment and the resumption of mining activities, expired with no substantial progress, leaving the mines idle since December 2023.
Nana Nteboa Pra, Chief of Hima Prestea, expressed deep concern over FGR’s failure to fulfill most of its obligations, despite the company paying overdue worker salaries.
He voiced the frustration and uncertainty felt by the local community and the mine’s workforce, who have been in limbo for months.
Nana Nteboa Pra also criticized the government for its lack of engagement with local stakeholders, highlighting the community’s sense of marginalization in the decision-making process.
“Government needs to engage the local communities, the chiefs, and opinion leaders here, to explain the current situation. The chiefs have visited the ministries, and were promised that they would be engaged, but since October last year, we have heard nothing. It’s worrisome that as chiefs, we feel like we don’t matter, or that the government doesn’t care about us. I don’t want to believe that,” he remarked.
He continued, “We should be properly engaged to find a way forward. The government should not ignore us as if we don’t care. They are the regulators, but we should be seen as partners in development. We are the immediate stakeholders and beneficiaries, whether the outcomes are good or bad. The government needs to involve us. We might even find support elsewhere to revamp these mines rather than being treated as if we don’t matter.”
FGR, which acquired the mines from Golden Star Resources in October 2020, submitted a proposal in early 2024 to raise $150 million to pay creditors and restart operations. The government granted conditional approval, requiring FGR to demonstrate its financial capability within 120 days. However, the company failed to secure the necessary funding, putting its mining leases at risk.
Now, the Ministry of Lands and Natural Resources faces a critical decision on the future of the Prestea and Bogoso mines. In an April 2024 statement, the Ministry warned that failure to meet the conditions could result in the revocation of FGR’s leases, a scenario that now seems increasingly likely. As the situation develops, the local community is eagerly awaiting a resolution that could bring stability and economic revival to the region.
The Ministry has reiterated its commitment to protecting jobs and ensuring the sustainable management of the country’s natural resources. However, FGR’s failure to meet its obligations raises serious doubts about its ability to deliver on its promises.
