Dr. Ernest Addison – Governor of BoG
THE BANK of Ghana (BoG) has asked Ghana Link Network Services Limited to restrict Adamus Resources Limited and BCM International Limited from using the Integrated Customs Management System (ICUMS) to prepare any letter of commitment for gold exports until a final determination has been made on the matter which is before a tribunal.
According to the BoG, its attention recently has been drawn to a pending dispute between African Champion Industries Limited as claimants versus Adamus Resources Limited and BCM International Limited as respondents.
The case, it said, was being heard at the Ghana Arbitration Centre, Accra, under the Alternative Dispute Resolution Act, 2010, (Act 798).
The BoG said the tribunal has granted an Order of Interim Injunction and Preservation of Property pursuant to section 38 (1) of the Alternative Dispute Resolution Act, (Act 798), to the claimants which they applied for.
The order was to restrain the respondents, Adamus Resources Limited and BCM International Limited from selling or exporting gold realized from the concession known as ‘Nzema Mine’ pending the final determination of the matter.
The central bank continued that the tribunal had also granted that all gold bullions or concentrates produced at the Nzema Mine should be delivered to the custody of the BoG pending the conclusion of proceedings.
It also said pursuant to the foregoing orders by the tribunal, the counsel for the claimant, in a letter dated August 12, 2020 requested that the BoG should cooperate to ensure that the orders were strictly enforced.
Following discussions between the banking, secretary and legal departments, it said some decisions were taken.
The Banking Department of the BoG was asked to ensure that Adamus Resources Limited and BCM International Limited did not generate any letter of commitment (LOC) from the ICUMS to export gold from the Nzema Mine, while also it was asked to follow laid down procedures to receive gold from Adamus Resources Limited and BCM International Limited for safe custody until the tribunal finally determined the matter before it.
BY Samuel Boadi