The Minerals Commission has defended the revocation of the mining leases of Northern Ashanti Mines Limited, formerly Owere Mines, insisting the company persistently defaulted on its statutory obligations and that due process was followed.
At a press briefing at the head office of the Minerals Commission in Accra on Thursday, October 29, 2026, the Commission said the termination of the company’s mineral rights was lawful and rejected allegations of bad faith and attacks on the Minister for Lands and Natural Resources.
“A mineral right is not a gift, and it is not an inheritance! It is a privilege conferred by the State on terms, and those terms must be honoured. No company, whether indigenous or foreign, may hold the resources of the Republic, w ithhold what is owed to the people of Ghana, and then turn around to cry foul when the law takes its course,” the Commission stated.
Sequence of defaults
According to the Commission, the company acquired a mining lease covering 595 cadastral blocks in January 2010 as Owere Mines. Under Section 24 of the Minerals and Mining Act, 2006 (Act 703) and the terms of the lease, it was required to pay Annual Mineral Right (AMR) fees annually, which it failed to do.
The Commission outlined a chronology of notices:
– On May 28, 2020, it issued a Notice to Remedy Breach to Owere Mines when the company was already in default in excess of US$4 million.
– Following a transitional takeover by BCM Investments, the company proposed to settle the debt in four tranches. In June 2020, the Commission accepted the principle but requested specific dates, which were never provided or adhered to.
– On November 5, 2020, the Commission wrote again notifying the company of breaches of its own payment plan.
– On October 13, 2022, with no payments received, a further notice was served. The debt had risen to US$5,595,238.14.
– By December 29, 2022, when another notification was sent, the debt stood at US$6,188,000.
– On April 14, 2025, yet another notice was served, including fees owed for prospecting licences from 2019 to 2025. At that time, the total owed for mining leases was US$8,330,000 and US$49,928 for prospecting licences.
The Commission said that on April 7, 2026, a year after the last notice and in accordance with the law, it identified the non-payment as flagrant and deliberate and notified the Minister for Lands and Natural Resources, requesting that a termination notice be served. The Minister approved the issuance, after which the Commission terminated the mineral rights.
Disputed figures
Responding to the company’s claim that the US$8 million figure is wrong, the Commission said its records are clear.
“We invite the public to do the arithmetic. As at 29th December 2022, the debt stood at approximately US$6,000,000. The Company remained in default thereafter, and the debt continued to accrue through 2025, bringing the total to US$8,330,000 in respect of the mining leases, so where is the discrepancy in our reporting?” it queried.
It further disclosed that the AMR actually paid by the company amounts to US$300,000 in two tranches, not the US$1,000,000 claimed by the company.
“For a company that claims to have spent US$200,000,000 on the mine, what prevented it from paying the US$8,000,000 owed to the people of Ghana?” the Commission asked.
Dialogue or litigation
The Commission dismissed the company’s call for dialogue, noting that the company has sued the Minister, the Commission and the Attorney-General.
“A company that sues the Hon. Minister, the Minerals Commission and the Attorney-General is not a company seeking dialogue. It is a company seeking to litigate in court and in the media simultaneously. That is improper, and it is contemptuous of the judicial process,” it said.
The Commission stated that upon termination, the mineral rights reverted to the State as the lawful owner, without prejudice to all prior liabilities, including the substantial indebtedness. It reserves the right to pursue the company for all sums owed.
It added that the State has a responsibility to protect and secure the reverted assets from dissipation or encroachment, as provided under Section 70 of Act 703.
“The Minerals Commission acted lawfully and followed due process at every stage. The Company was given several opportunities to regularise its position and chose not to. No one is above the law in this country. If you flout the laws, there are sanctions, and those sanctions will apply,” the Commission concluded.
