{"id":161838,"date":"2024-03-13T14:00:28","date_gmt":"2024-03-13T14:00:28","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/13\/govt-poised-to-revamp-prestea-mine\/"},"modified":"2024-03-13T14:00:28","modified_gmt":"2024-03-13T14:00:28","slug":"govt-poised-to-revamp-prestea-mine","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/13\/govt-poised-to-revamp-prestea-mine\/","title":{"rendered":"Govt Poised To Revamp Prestea Mine"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Samuel Abdulai Jinapor<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Minister of Lands and Natural Resources, Samuel Abdulai Jinapor, has given assurance that the government will work to revamp the Prestea Mine which is now owned by Future Global Resources (FGR).<\/p>\n<p>According to him, the revamp is to secure the employment of the company\u2019s workers.<\/p>\n<p>He stated that on July 26, 2020, Golden Star reached an agreement with Future Global Resources (FGR) to sell all of its shares in the company to FGR, subject to regulatory approval.<\/p>\n<p>\u201cGolden Star (Bogoso\/Prestea) Limited was the holder of mining leases in and around Prestea and Bogoso, with some of the leases dating back to 2001,\u201d he said, while answering questions on the floor of Parliament.<\/p>\n<p>Mr. Jinapor indicated that based on the Minerals Commission\u2019s recommendations, the then-Minister, Kwaku Asomah-Cheremeh, issued a \u2018No Objection\u2019 on September 30, 2020, in accordance with Section 52 of the Minerals and Mining Act, 2006 (Act 703), allowing FGR to acquire Golden Star\u2019s interest in the mine.<\/p>\n<p>\u201cThat same day, FGR became the owner of the Prestea\/Bogoso Mine. By the said takeover, FGR assumed all the rights and liabilities of Golden Star (Bogoso\/Prestea) Limited,\u201d he added.<\/p>\n<p>The minister explained that the terms of the takeover agreement are essentially made up of obligations, covenants, representations, warranties, and guarantees between the parties that led to the closure of the agreement, including payment terms, document delivery, and FGR taking possession of the mine.<\/p>\n<p>He stated, however, that as part of the request for a \u2018No Objection\u2019, FGR submitted a Funding Proposal in which the company is committed to injecting capital to develop and expand the mine, with a focus on extending the existing underground mine, assessing the potential for additional discoveries, and exploitation of sulphide resources.<\/p>\n<p>\u201cMr. Speaker, the Company has, however, not been able to inject the requisite capital, and the operations of the mine have come to a halt due to a disconnection of power to the mine,\u201d he said.<\/p>\n<p>\u201cThe Ministry is working with all relevant stakeholders to ensure that the mine is revamped as soon as possible,\u201d he stressed.<\/p>\n<p>He added, \u201cI want to assure the Hon. Member for Prestea-Huni Valley, the Chiefs and people of the area, and this august House that just as we did with the Obuasi Mine, which was put under care and maintenance, and the Bibiani Mine, which had been dormant for seven (7) years, Government will work to revamp the Prestea Mine, and secure the employment of its workers.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><strong>By Ernest Kofi Adu, Parliament House<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Samuel Abdulai Jinapor \u00a0 Minister of Lands and Natural Resources, Samuel Abdulai Jinapor, has given assurance that the government will work to revamp the Prestea Mine which is now owned by Future Global Resources (FGR). According to him, the revamp is to secure the employment of the company\u2019s workers. He stated that on July 26, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":161839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-161838","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt Poised To Revamp Prestea Mine - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/13\/govt-poised-to-revamp-prestea-mine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Poised To Revamp Prestea Mine - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Samuel Abdulai Jinapor \u00a0 Minister of Lands and Natural Resources, Samuel Abdulai Jinapor, has given assurance that the government will work to revamp the Prestea Mine which is now owned by Future Global Resources (FGR). According to him, the revamp is to secure the employment of the company\u2019s workers. He stated that on July 26, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/03\/13\/govt-poised-to-revamp-prestea-mine\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T14:00:28+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Govt Poised To Revamp Prestea Mine\",\"datePublished\":\"2024-03-13T14:00:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/\"},\"wordCount\":419,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/13\\\/govt-poised-to-revamp-prestea-mine\\\/\",\"name\":\"Govt Poised To Revamp Prestea Mine - 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