A youth group has petitioned the government to investigate the acquisition and subsequent operation of the Bogoso–Prestea mine by Heath Goldfields Limited, raising concerns over the company’s technical capacity, financial strength and compliance with the conditions of its lease.
The petition, submitted by the Catchment Area Community Alliance (CACA) to the Presidency, the Ministry of Lands and Natural Resources and the Minerals Commission, calls for what it describes as a full, independent review of the transaction and the processes that led to the award.
The Bogoso–Prestea mine, one of Ghana’s oldest gold assets, has faced recurring operational and financial challenges in recent years. In September 2024, the government terminated the lease of its previous operator, FGR Bogoso Prestea Mine, citing insolvency and failure to meet key financial obligations, including unpaid worker entitlements.
Following the termination, the Minerals Commission invited fresh proposals from prospective investors. Heath Goldfields, presented as a subsidiary of Yildirim Group, was subsequently recommended by the Commission’s board on the basis of what were described as strong technical credentials and financial backing.
Documents referenced in the petition indicate that the company’s proposal relied heavily on the track record of Yilmaden, the mining arm of the Yildirim Group, and included plans to invest up to US$500 million to revive operations at the site.
However, CACA contends that these assurances have not materialised since the company assumed control. The group questions whether Heath Goldfields is indeed a bona fide subsidiary of the Yildirim Group, noting that publicly available information on the conglomerate’s corporate structure does not list the company among its recognised entities.
Corporate filings cited in the petition show that Heath Goldfields was incorporated in Ghana in February 2024 with a stated capital of GH¢10,000, a figure the group argues casts serious doubt on its capacity to finance a project of such scale.
The petition further alleges that key financial commitments outlined in the company’s strategic mine development plan have not been fulfilled.
These include an initial capital injection intended to restart operations and settle outstanding liabilities, particularly payments owed to workers.
According to the group, although the company pledged to clear employee entitlements shortly after assuming control, payments were delayed for several months, with some obligations reportedly still outstanding.
It also claims that more than 400 workers have been laid off since the transition, contrary to assurances that jobs would be protected.
Concerns have also been raised about operational readiness. The petition asserts that equipment and infrastructure listed in the development plan, including major processing plant components, are either absent or not functional on site, suggesting what it describes as “material misrepresentation” during the approval process.
CACA further points to a 120-day notice reportedly issued by the Minerals Commission in October 2025, directing the company to remedy alleged breaches of its lease conditions.
It says no clear outcome has since been communicated, despite what it views as continued non-compliance.
Beyond the conduct of the company, the petition raises broader questions about regulatory oversight and due diligence.
It queries whether the Minerals Commission adequately verified claims relating to ownership, financing and technical capability before recommending the lease.
“We are asking for a full investigation into how this asset was handed over and whether the processes followed were in the national interest,” a representative of the group said while presenting the petition.
The group is urging authorities to examine the accuracy of the company’s representations, its compliance with both pre- and post-approval conditions, the status of outstanding worker entitlements, and any procedural lapses in the awarding of the lease.
Receiving the petition on behalf of the Minerals Commission, Deputy Chief Executive Emmanuel Kwamena Anyimah dismissed a specific allegation concerning the Commission’s Chief Executive.
He urged petitioners to disregard claims that the CEO was acting to protect the interests of Heath Goldfields due to any personal relationship with the company’s leadership.
Anyimah, flanked by Dela Edem, Head of Corporate Affairs, and the Acting Chief Mining Inspector, assured the group that their concerns would be taken seriously.
He called for restraint, urging petitioners to allow time for the government to study the issues raised and respond in accordance with the law.
The dispute underscores enduring tensions within Ghana’s mining sector, where efforts to attract investment continue to collide with demands for transparency, accountability and the protection of workers and host communities.
Source: theheraldghana