The one-hundred-and-twenty-day deadline set by the Ministry of Lands and Natural Resources for Future Global Resources (FGR) to revamp the Prestea and Bogoso mines has expired, with the company failing to meet several critical conditions.

This deadline was established to ensure the injection of much-needed capital and the resumption of full-scale operations at the mines, which have been inactive since December 2023.

Chief of Hima Prestea, Nana Nteboa Pra, has voiced concerns over FGR’s inability to honour the conditions laid out by the government, except for the payment of outstanding worker salaries.

 Speaking to Western Regional correspondent, Ina-Thalia Quansah, Nana Nteboa Pra emphasised the frustration and uncertainty faced by the local community and the mine’s workforce, who have been waiting for months for the promised revival of the mining operations.

Additionally, Nana Nteboa Pra iv expressed dissatisfaction with the lack of engagement from the government with local communities.

"Government also needs to engage the local communities, the chiefs, and opinion leaders here, to explain to them the current situations happening. The chiefs have been to the ministries, with a promise from the ministry that they will engage both parties. Since last year, October, up to date, not a word from the ministry to the local communities. And it's a worry that as chiefs, we don't matter, or government doesn't care about us. I don't want to believe that.”

“We should be properly engaged and see our way forward in some of these situations. Rather than government ignoring us, as if we don't care, and that they are the regulators, so therefore they have to make decisions. Yes, we know that you have to make the decisions, but we should be seen as partners in development. Don't forget, we are the immediate stakeholders here, the immediate beneficiaries of whatever is happening here, either good or bad. So, the government needs to engage as well in this situation. Probably, we might also find support elsewhere for these mines to be revamped, rather than be seen as if we don't matter here”, he added.

The Ministry of Lands and Natural Resources, in a press release dated April 25, 2024, detailed the series of events leading up to the expiration of the deadline.

FGR, which acquired the Bogoso and Prestea mines from Golden Star Resources in October 2020, encountered financial difficulties that halted operations and left workers without pay. The government, through the Ministry and the Minerals Commission, had been actively working with FGR to find a solution.

In January 2024, FGR submitted a proposal to restructure the company and raise $150 million to pay creditors and restart the mine. The government granted conditional approval for this plan, with strict timelines for the company to demonstrate financial capability and resume operations. By 17th April 2024, FGR was given 120 days to meet these conditions, including the repayment of outstanding salaries and the revival of mining activities.

Despite initial steps, such as the commencement of salary payments, the company failed to secure the necessary funding and has not met the full set of conditions outlined by the government. The Ministry’s conditional approval letter clearly stated that failure to meet these conditions would result in the revocation of the approval and termination of FGR’s mining leases.

The government now faces a critical decision on how to proceed with the future of the Prestea and Bogoso mines. The Ministry of Landa and Natural Resources has expressed its commitment to protecting the employment of workers and ensuring the effective and sustainable management of Ghana’s natural resources. Regular meetings with FGR’s leadership have been scheduled to monitor progress, but the company’s inability to meet the deadline raises questions about its capacity to fulfil its obligations.

The situation has left the workers and local communities in a state of limbo, with growing calls for the government to take decisive action to secure their livelihoods. The Ministry has urged all stakeholders to support efforts to revamp the mine and protect the jobs and well-being of those dependent on the mining operations.

As the government deliberates on its next steps, the future of the Prestea and Bogoso mines remains uncertain, with the local community anxiously awaiting a resolution that will bring stability and growth to the area.