By Felix Cofie
The Managing Director of Heath Goldfields, Patrick Appiah Mensah, has disclosed that the Prestea–Bogoso Mines have secured a $2.8 billion offtake facility to support the full development of the operation.
Speaking on the GTV Breakfast Show with host Thelma Tackie, Mr. Mensah affirmed that the Government of Ghana is within its legal rights to terminate mining lease agreements where companies fail to meet stipulated conditions.
He was responding to questions regarding government’s decision in September 2024 to terminate the lease agreement of Future Global Resources and its associated entities, a move that was subsequently challenged in court.
According to Mr. Mensah, the state retains full discretion over its natural resources and is empowered to act in the national interest. He explained that companies seeking mining leases must undergo rigorous due diligence, including demonstrating technical expertise and verified sources of funding through the Minerals Commission.
He revealed that although Heath Goldfields was awarded the lease and given access to the site, legal action by the previous operators temporarily stalled operations, requiring the company to pause and undertake further due diligence processes.
Despite these challenges, Mr. Mensah noted that operations have since commenced, with the company employing a significant number of Ghanaians. He emphasized that as a wholly Ghanaian-owned company, Heath Goldfields brings a deeper understanding of the local terrain and industry dynamics.
The newly secured $2.8 billion offtake agreement with a major international gold trading firm, he said, will provide the financial backbone needed to scale up operations and unlock the full potential of the Prestea–Bogoso mines located in Prestea and Bogoso.
