Gov’t showing no commitment to revitalizing future global resources Bogoso Prestea Mine-Bogoso MP




Hon. Robert Wisdom Cudjoe,
Member of Parliament for
Prestea-Huni Valley Constituency in the Western Region is deeply disappointed to witness the lack of commitment, dishonesty, and inadequate attention in the revitalization of the Future Global Resources (FGR) –Bogoso Prestea mine by the Ministry of Lands and Natural Resources (MLNR) and the Minerals Commission of Ghana.

According to him,the Ministry and the Minerals Commission have both failed to honour the myriad promises made to revitalize the Future Global Resources (FGR) – Bogoso Prestea mine.

In a press release dated 25th April 2024 by MLNR, the Minister, Hon. Samuel A. Jinapor, engaged with over Three Hundred (300) members of the Ghana Mine Workers’ Union of TUC who had gathered at the Ministry of Lands & Natural Resources to protest against the total lack of commitment and capacity of Future Global Resources (FGR) to invest and operate the Bogoso-Prestea Mine. Following his address to the aggrieved mine workers, the Minister issued an extensive eighteen paragraph statement to the public on the same day, in which he granted FGR
“Conditional Approval” to restructure the company and raise the necessary capital within a strict deadline.

The conditions for this “Conditional Approval” included;
• Effective 17th April 2024, the Company has been given one hundred and
twenty (120) days to raise the capital, revamp the Mine and ensure that it
operates to full capacity.

• Two weeks to commence the payment of all outstanding salaries owed to
workers, and to complete the payment of outstanding salaries not later
than 30th May 2024.

• The Company is to submit evidence, to the satisfaction of the Minister and the Minerals Commission, of financial resources available to pay creditors and operate the Mine, within the said one hundred and twenty (120) days, and to ensure the Mine is fully operational before the expiration of the said one hundred and twenty (120) days.

According to paragraph 12 of the press statement and the letter issued by the minister on 17th April 2024 to FGR, in which it was specifically stated that “should the Company (FGR) fail to meet any of the above conditions, the Conditional Approval given shall
be deemed revoked, and the Mining Leases terminated, without further recourse to the Company”, I find it deeply regrettable to note that despite these directives, FGR has not met the requirement to provide financial resources to pay creditors and operate the mine, nor have they settled all outstanding salary arrears by the stipulated deadline of 30th May 2024.

The supposed injection of $150 million into the company to settle debts, has not materialized, so FGR is financially incapacitated, resulting in a halt to underground maintenance work by flooding. Additionally, only junior staff-permanent workers have received one month’s salary arrears, indicating a lack of commitment to meeting obligations. Despite non-compliance, the MLNR has not taken any action to terminate
FGR’s Mining Leases. This blatant display of ineptitude will inevitably imperil the mine, the economy of Prestea – Bogoso, and the livelihoods of its inhabitants.

“I therefore call on the Government to cancel the mining leases to pave the way for other investors to take over and invest in the Mine. Also, I demand MLNR and the Minerals Commission to act swiftly on this matter to protect the incomes and livelihoods of over One Thousand Five Hundred (1500) workers and their families, as well as protect and sustain the domestic economy of the Bogoso-Prestea communities from collapse.

I urge my constituents to join me and the NDC in the fight for the development, progress, and the collective good of the constituency.”He concluded.

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