The Economic and Organised Crime Office (EOCO) has frozen the acquisition process of the Prestea-Bogoso Mine by Heath Goldfields Limited, citing ongoing investigations into alleged fraudulent activities surrounding the transaction.
In a letter dated 23rd December, 2024, EOCO requested the Minerals Commission to produce documents and provide information related to the registration process of the acquisition.
EOCO specifically asked for details concerning the acquisition by Heath Goldfields Limited and any other documents related to the mine’s transfer.
The investigation, initiated by EOCO, seeks to uncover the veracity of the acquisition and whether it was carried out through fraudulent means.
As part of its investigation, EOCO has requested the cooperation of the Minerals Commission, asking officials to report to the Executive Director of the office or their representative to provide the necessary documents and information.
In accordance with Section 33 of the Economic and Organised Crime Act, 2010 (Act 804), EOCO has imposed a freeze on the acquisition process, halting further transactions between the companies involved until the investigation is concluded.
This action follows concerns regarding the legitimacy of the acquisition of the Prestea-Bogoso Mine, a significant asset in Ghana’s mining sector.
The Executive Director of EOCO, Mrs. Maame Yaa Tiwaa Addo-Danquah, who signed the directive also requested immediate compliance from the Minerals Commission, emphasising the importance of resolving the issue promptly.
The freezing of the acquisition process comes after the current managers of the mine, Blue Gold Bogoso Prestea Limited raised red flags over the process, alleging it was being yanked off the business for no apparent reason.
