Northern Ashanti Mines Limited (NAML) has challenged the Minerals Commission’s decision to revoke its mining lease and prospecting licence, accusing the regulator of making misleading claims to justify the action.
In a press statement, the mining company disputed allegations that it violated statutory requirements, accumulated unpaid debts and failed to undertake meaningful mining operations on its concession. NAML described the Commission’s explanation as containing “falsehoods, untruths and half-truths.”
The company argued that it was not served with any prior notice alleging statutory violations before the revocation. According to NAML, the only communication it received was a letter dated April 30, 2026, informing it of the decision.
It questioned whether the Minerals Commission complied with Section 68 of the Minerals and Mining Act, 2006 (Act 703), before revoking its mining rights.
NAML Disputes $8.3 Million Mining Debt
NAML has also challenged the Commission’s claim that it owes $8.332 million under its mining lease and an additional $49,000 for its prospecting licence.
The company cited an audit communication issued in May 2026, which it said placed its outstanding debt at approximately $2.4 million. It maintained that the separate $8.3 million debt was inherited from Owere Mines, the previous operator, before NAML acquired the mine in 2020.
NAML further stated that it had paid more than $1 million towards reducing its financial obligations and requested additional time to settle the outstanding amount. The company said its investments in mine development and the construction of a gold processing plant informed its request.
Company Defends Mining Activities
The mining firm also rejected allegations that it had failed to conduct meaningful mining operations on its concession for more than two years.
NAML argued that mine development, infrastructure construction and preparations for commercial gold production should qualify as meaningful mining activities, even if full-scale production has not yet begun.
According to the company, the Minerals Commission issued permits on February 7 and February 17, 2026, authorising various activities, including the development of a new gold processing plant and ore stockpiling. It maintained that its mining equipment was operating continuously on the concession.
NAML Takes Legal Action Over Revocation
The company said it had taken the dispute to court to protect investments exceeding $200 million made since acquiring the mine in 2020.
NAML also called for dialogue to resolve the disagreement, warning that disputes involving mining licences and the control of mining assets could undermine investor confidence in Ghana’s mining industry.
The company expressed concern over what it described as an emerging pattern of unlawful takeovers involving mining assets owned by Ghanaian businesses. It urged the relevant authorities to pursue a resolution that protects investments and maintains a favourable environment for mining operations.
The dispute highlights growing concerns about mining lease revocations, regulatory compliance, outstanding mining debts and investor protection in Ghana’s gold mining sector.
The allegations against the Minerals Commission reflect NAML’s position, and the underlying dispute remains subject to legal determination.
Read the full statement below:
Source: newsthemegh.com