The Economic and Organised Crime Office (EOCO) has taken a bold step in freezing the acquisition process of the Prestea-Bogoso Mine by Heath Goldfields Limited, citing ongoing investigations into alleged fraudulent activities surrounding the transaction.
This move comes after concerns were raised regarding the legitimacy of the acquisition, a significant asset in Ghana’s mining sector.
According to reports, EOCO requested the Minerals Commission to produce documents and provide information related to the registration process of the acquisition in a letter dated December 23, 2024.
The investigation seeks to uncover the veracity of the acquisition and whether it was carried out through fraudulent means.
EOCO has also requested the cooperation of the Minerals Commission, asking officials to report to the Executive Director of the office or their representative to provide the necessary documents and information.
The freezing of the acquisition process is in accordance with Section 33 of the Economic and Organised Crime Act, 2010 (Act 804).
This means that further transactions between the companies involved will be halted until the investigation is concluded.
The Executive Director of EOCO, COP Maame Yaa Tiwaa Addo-Danquah, emphasized the importance of resolving the issue promptly and requested immediate compliance from the Minerals Commission.
The current managers of the mine, Blue Gold Bogoso Prestea Limited, had raised red flags over the process, alleging that it was being taken away from them without any apparent reason.
This development is the latest in a series of controversies surrounding the mine’s acquisition.
BY Daniel Bampoe