Debt Alone Cannot Justify Revocation of Northern Ashanti Mines’ Lease – Dr Manteaw Fires Warning

According to a report by Adom FM on Thursday October 29, 2026, the Co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Steve Manteaw, has called on the government to reconsider its approach to the dispute involving Northern Ashanti Mines Limited, insisting that outstanding statutory debt alone should not be sufficient grounds to revoke the company’s mining lease.

Dr Manteaw believes the authorities should prioritise negotiations and establish a practical payment arrangement that would allow the mining company to settle its outstanding obligations while continuing its operations.

He argues that keeping the business operational could ultimately benefit the state by enabling it to generate revenue and repay the money it allegedly owes.

Speaking on Joy FM’s Top Story, Dr Manteaw was responding to the Minerals Commission’s position that Northern Ashanti Mines owes more than US$8.38 million in statutory fees.

The regulator has defended its decision to terminate the company’s mining lease and prospecting licence, citing unpaid fees and alleged breaches of mining regulations.

However, Dr Manteaw maintains that financial indebtedness should be treated differently from serious technical violations that could warrant the withdrawal of a mining licence.

“I don’t think indebtedness constitutes enough grounds for the revocation of a licence. It does not.

But if there are serious technical breaches, then we can talk about revocation. But if somebody owes you, you sit down and negotiate for the payments,” he said.

He stressed that the government and the Minerals Commission should consider whether shutting down a company over outstanding payments would help recover the money owed or instead make repayment more difficult.

According to him, a functioning mining business has a better opportunity to generate the income needed to meet its financial commitments than a company whose operations have been halted following the loss of its mineral rights.

“And it should be in your interest that that business exists and thrives in order to pay what it owes you,” he said.

Dr Manteaw’s intervention comes amid growing disagreement between Northern Ashanti Mines and the Minerals Commission over the termination of the company’s mineral rights covering its mining operations at Konongo.

The dispute has attracted public attention, with the regulator insisting that it acted within the law, while the company has challenged the decision and raised concerns about the treatment of its investment.

The GHEITI co-chair believes the matter requires a more measured response, particularly at a time when Ghana is seeking to increase local participation and ownership in the mining industry.

He warned that revoking the licences of Ghanaian-owned mining companies over financial difficulties could undermine the government’s broader ambition of strengthening indigenous participation in the sector.

“A Ghanaian mining company may have a problem, but once you want to localize our mining industry, you don’t revoke leases and close them down by act. You identify the challenges we are going through and help them to overcome the challenges,” he said.

For Dr Manteaw, the issue goes beyond the outstanding fees and the immediate disagreement between the company and the regulator.

He believes the manner in which the dispute is resolved could influence the confidence of local investors and financial institutions that support Ghanaian-owned mining ventures.

He cautioned that a confrontational approach to resolving such matters could send negative signals to potential investors and creditors, especially those considering financing businesses that require substantial capital before they begin generating revenue.

The mining industry typically involves considerable expenditure on exploration, infrastructure, equipment and processing facilities before commercial production can commence.

Dr Manteaw’s position is that regulators should take these realities into account when considering how companies facing financial difficulties can meet their obligations.

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