Future Global Resources (FGR) has been given a deadline by the Ministry of Lands and Natural Resources to revamp the Prestea and Bogoso mine.
This announcement is the result of a conversation that took place today, Thursday, April 25, 2024, between members of the Mine Workers Union and Hon. Samuel A. Jinapor, Minister of Lands and Natural Resources.
The Minister gave the labourers assurances about the government’s “commitment to working with all stakeholders to secure the welfare of its workers and revamp the Prestea and Bogoso mines.”
In October 2020, FGR purchased the mines from Golden Star Resources.
Due to financial difficulties, the mine’s operations ended in December 2023, leaving its employees without pay.
A statement issued by the Public Relations Unit of the Lands Ministry following the picketing by the workers revealed the Ministry, along with the Minerals Commission, has been collaborating with FGR and other stakeholders to address the debts and restart operations. FGR submitted a proposal in January 2024 to restructure the company and raise USD 150 million to pay creditors and revive the mines.
The government has given FGR’s proposal conditional approval, giving the business “120 days” to secure the funding and guarantee that the mines run at maximum capacity. Additionally, FGR has been given “two weeks” to commence payment of outstanding salaries, with a deadline of May 30, 2024, to complete all payments.
The Minister emphasised the importance of FGR supporting the government’s Community Mining Scheme by relinquishing part of its concessions in Bogoso and Prestea.
Failure to meet the conditions set forth by the Ministry could result in the revocation of the conditional approval and termination of mining leases.
More than 300 mine workers from the Bogoso Mine today converged at the Ministry of Lands and Natural Resources to stage a protest.
They want the minister to revoke the mining lease of Future Global Resources, the managers of the Bogoso Mine.
Their argument stems from the assertion that, during the previous three years, Future Global Resources has shown a lack of ability to manage the mine effectively, which has resulted in the layoff of all employees.
Abdul Moomin Gbana, the General Secretary of the Ghana Mine Workers Union of TUC, addressed the media at a news conference in Accra, where he highlighted the grievances of the workers.
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