Northern Ashanti Mines
Northern Ashanti Mines Limited has disputed the Minerals Commission’s claim that it owes more than US$8.38 million in unpaid mineral right fees, alleging that the regulator’s own financial records put its debt at about US$2.4 million.
The company has also denied receiving prior notice of statutory breaches before the Commission terminated its mining lease and prospecting licence on April 30, 2026, and has challenged the regulator’s assertion that it failed to undertake meaningful mining operations for more than two years.
In a press statement responding to the Commission’s October 27 announcement, Northern Ashanti Mines said an audit communication issued by the regulator in May 2026 placed its debt at about US$2.4 million, separate from a legacy debt of US$8.3 million attributed to Owere Mines, the previous operator of the mine.
The company said it had paid more than US$1 million towards its outstanding payments and had asked the Commission for additional time to settle the debt while it developed the mine and installed a gold processing plant.
Northern Ashanti Mines, which said it had invested more than US$200 million in the operation since taking it over in 2020, described the termination of its mineral rights as unlawful and said it had resorted to the courts to protect its investment.
The company also disputed the Commission’s assertion that it had failed to undertake meaningful mining operations for more than two years. It said the regulator had granted permits for various projects, including the construction of a new processing plant and mining activities to stockpile ore ahead of full production.
According to the company, two permits were issued on February 7 and February 17, 2026, and its mining fleet had been operating day and night under those approvals.
The Minerals Commission, however, has maintained that Northern Ashanti Mines failed to pay annual mineral right fees totalling US$8.33 million for mining leases covering 2010 to 2025, and US$49,928 for prospecting licences covering 2019 to 2025.
The regulator said it issued notices on April 14, 2025, requiring the company to remedy the breaches under Section 68(2) of the Minerals and Mining Act, 2006 (Act 703), and Regulation 200(3) of the Minerals and Mining (Licensing) Regulations, 2012 (L.I. 2176). It said the company failed to comply within the stipulated period.
The Commission also cited Section 69(1) of Act 703, alleging that the company had not undertaken meaningful mining operations on the concession for more than two years.
It said it notified the Minister for Lands and Natural Resources on April 7, 2026, obtained approval on April 24, and issued the termination notice on April 30.
Northern Ashanti Mines disputes the Commission’s account of the notice process, saying the only letter it received was the April 30 termination notice, despite that letter referring to an earlier communication.
