$53M funding pledged for Bogoso Prestea Mines

The dispute over the Bogoso Prestea Gold Mine has escalated, with Blue Gold, a British mining firm, accusing Ghana’s Ministry of Lands and Natural Resources of unfairly terminating its mining lease in favor of Heath Goldfields Limited, a local company with alleged political ties.

Blue Gold has secured over $53 million in funding, including $25 million from Gerald Group and $8 million from Attachy Construction, and claims readiness to revive the mine.

Despite this, the Ministry has refused meaningful engagement, prompting Blue Gold to allege breaches of the Ghana-UK Bilateral Investment Treaty. The company is pushing for resolution by January 14, 2025, or will seek arbitration. The dispute raises concerns about Ghana’s investment climate, stalled operations, and the livelihoods of affected workers and communities.