Martin Kpebu is a private legal practitioner (M) among other members of the group
A group which has identified itself as the Catchment Area Community Alliance (CACA) has called on the Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, to terminate the mining lease of Heath Goldfields Limited (HGL) at the Bogoso-Prestea Mine.
The group cited what it described as the company’s lack of financial capacity, technical incompetence and alleged unauthorised collateralisation of national assets.
Speaking to the media during a press conference held in Accra on April 21, 2026, spokesperson for CACA, Martin Kpebu, raised concerns over what he described as an “investment mirage” surrounding HGL’s takeover of the strategic gold mine in the Western Region, arguing that the company has failed to fulfil major commitments made when it was awarded the lease.
According to the group, HGL was granted the Bogoso-Prestea mining lease on December 13, 2024, following the revocation of the mineral rights of the previous operator, FGR Bogoso Prestea Limited.
Martin Kpebu further stated that the Minerals Commission reportedly selected Heath Goldfields Limited based on its promise of a comprehensive redevelopment plan, backed by a proposed $500 million investment from Yilmaden Holdings, the mining arm of Turkey’s Yildirim Group, which was said to have assets exceeding $2 billion.
“The evidence presented unequivocally demonstrates that Heath Goldfields Limited lacks the technical competence, financial capacity, and good faith required to manage the Bogoso/Prestea Mines.
“Despite receiving the mining lease on December 13, 2024, on the strength of ambitious commitments, including a US$500 million investment from Yilmaden Holdings, timely payment of employee entitlements and legacy debts, rapid infrastructure rehabilitation and a phased operational restart, HGL has consistently failed to deliver,” the group noted.
The group further indicated that several critical obligations remain unfulfilled, including the procurement of a $2 million pumping system needed to dewater the underground mine, which remains flooded.
Additionally, the group alleged that HGL has failed to fully settle employee benefits despite this being a precondition for lease approval.
According to them, although part payment was made in late 2025, about $4.9 million in SSNIT, Tier 2 contributions, and severance payments remain outstanding.
“Even though this was a precondition for the approval of the leases, the Bogoso-Prestea mining leases were authorised when these payments had not been made. This early sign raised a red flag about the financial capacity of the operator. As of today, SSNIT, Tier 2, and severance payments amounting to about $4,900,000 remain unpaid,” the statement added.
They also claimed that although HGL initially presented a $500 million investment plan, a later Phase 1 financing structure showed a different figure of $205 million, with only a $30 million shareholder loan reportedly disbursed as of November 2025.
The group concluded that HGL has failed to meet its obligations and urged the minister to invoke Section 68 of the Minerals and Mining Act, 2006 (Act 703), to terminate Heath Goldfields Limited’s lease.
It stressed that the people of Prestea-Huni Valley deserve a capable and well-resourced investor to revive the mine and restore economic activity in the area.
“For the sake of the Prestea-Huni Valley communities, national revenue, and the integrity of Ghana’s mining sector, we respectfully urge the Honourable Minister to exercise his powers under Section 68 of Act 703 to terminate HGL’s mining leases without further delay and initiate a transparent process for a genuinely capable investor.
“The people of Prestea deserve no less. Ghana’s gold resources must serve Ghana first,” he added.
AM
2026 Ghana Beverages Awards hailed as biggest and best so far - Emma Wenani
Ibrahim Mahama thanks ex-president Akufo-Addo for his role in Damang Mine takeover deal
Copyright © 1994 - 2026 GhanaWeb. All rights reserved.
