Ghana urged not to revoke mining lease over debt
Dr Steve Manteaw advises negotiation for US$8.38 million owed by Northern Ashanti Mines.
Dr Steve Manteaw, co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), has advised the government against revoking Northern Ashanti Mines’ lease due to outstanding statutory payments.
He suggested negotiating a payment plan instead, arguing that keeping the mine operational allows it to generate revenue to settle its debts. Dr Manteaw stated that indebtedness alone is not sufficient grounds for license revocation, unlike serious technical breaches.
The Minerals Commission claims Northern Ashanti Mines owes over US$8.38 million. Dr Manteaw expressed concern that the handling of this dispute might unfairly target Ghanaian-owned companies and undermine the government's policy of increasing local participation in the mining sector.
Why it mattersRevoking mining leases and shutting down local mining businesses over financial difficulties could undermine the government’s policy of placing Ghanaians at the centre of the country’s mineral industry.