The Bogoso Prestea Mine — one of Ghana’s oldest and most strategically important gold operations — was transferred to Heath Goldfields after the mining leases of former operator FGR Bogoso Prestea Mine were terminated in September 2024. The revocation followed findings of insolvency, unpaid statutory obligations, and prolonged underinvestment.
In the search for a new operator, the Minerals Commission invited both local and international investors, including firms from Ghana, China, and Turkey. According to the petition, Heath Goldfields emerged as the preferred bidder largely on the strength of claims that it was a subsidiary of Yilmaden Holding, the mining arm of Turkey’s Yıldırım Group, with access to more than US$500 million in capital.
The company reportedly pledged to inject US$150 million within the first 18 months and a total of US$500 million over five years — commitments that heavily influenced the award decision. Petitioners, however, say subsequent developments sharply contradict those assurances.
Official records from the Registrar General allegedly show that Heath Goldfields was incorporated in February 2024 with a stated capital of only GHS10,000. The petition further claims that Yilmaden Holding does not list Heath Goldfields among its subsidiaries, raising troubling questions about the company’s ownership structure, financial credibility, and the basis on which it was approved.
The petition also accuses regulators of issuing mining leases on December 13, 2024, despite outstanding preconditions set by the Minerals Commission — including the settlement of salary arrears and worker entitlements. Petitioners describe this as a serious lapse in due diligence, suggesting the approval process may have been rushed ahead of a change in government.
Copies of the petition have been forwarded to the Ministry of Lands and Natural Resources, the Minerals Commission, the Economic and Organised Crime Office (EOCO), and the Bureau of National Investigations, calling for a full forensic audit of the lease approval process.
Senior officials at the Minerals Commission and the former Minister for Lands and Natural Resources are specifically named in the petition, which questions whether political urgency to finalise the transaction compromised regulatory safeguards.
Beyond governance concerns, the petition highlights what it calls the devastating human cost of the transition. More than 400 workers have reportedly lost their jobs since Heath Goldfields assumed control, despite public assurances that recapitalisation would protect employment.
Under its Strategic Mine Development Plan, the company committed to settling outstanding salaries, provident fund contributions, SSNIT arrears, severance packages, and other legacy liabilities within seven days of union negotiations. Instead, the petition outlines months of delays — with salary arrears paid only in July 2025, provident fund contributions in September 2025, and end-of-contract benefits not cleared until December 2025. Several obligations, including severance pay, SSNIT arrears, Tier 2 pension contributions, and benefits owed to former management staff, are said to remain unpaid.
Community leaders warn that the layoffs and prolonged non-payment have crippled livelihoods in Bogoso and Prestea, deepening unemployment and worsening economic hardship in towns already battered by years of uncertainty.
The petition also accuses Heath Goldfields of failing to execute capital investments central to its approved development plan. Funds earmarked for plant rehabilitation, underground dewatering, ventilation systems, and new mining equipment have allegedly not translated into tangible installations, leaving production stalled and repeating the same operational decline that led to the collapse of the previous operator.
Adding to the concerns, the Minerals Commission reportedly issued a 120-day breach notice to Heath Goldfields in October 2025 for failing to meet funding and operational obligations. Petitioners claim the deadline has since expired without meaningful enforcement action, raising fears of regulatory selectivity and institutional weakness.
One of the most sensitive issues raised is whether the Bogoso Prestea Mine has become a political bargaining chip. While stopping short of direct accusations, the petition questions whether political considerations — rather than technical capacity and financial strength — influenced the final decision.
In its closing appeal, the coalition behind the petition reminds the Presidency and the Ministry of Lands and Natural Resources of public assurances made to Ghanaians.
“The President and the Minister promised a serious, well-financed investor,” the petition states. “Where is that investor?”
The group is demanding an independent investigation into the mine’s takeover, ownership claims, financial backing, regulatory conduct, and compliance with lease conditions, warning that continued inaction could further undermine confidence in Ghana’s mining governance system and put one of the nation’s most important gold assets at risk.
