EOCO freezes, investigates alleged fraud in Prestea-Bogoso Mine acquisition process

The Economic and Organized Crime Office (EOCO) has halted the acquisition process of the Prestea-Bogoso Mine by Heath Goldfields Limited, citing ongoing investigations into possible fraudulent activities linked to the transaction.

In a directive dated December 23, 2024, EOCO requested the Minerals Commission to provide documentation and information concerning the mine’s acquisition. The request specifically seeks details about Heath Goldfields Limited's registration and any records related to the transfer of ownership.

EOCO’s investigation aims to determine the legitimacy of the acquisition and whether any fraudulent practices were involved. The agency has called on the Minerals Commission to cooperate by furnishing the requested documents and presenting officials to assist with inquiries.

Under Section 33 of the Economic and Organised Crime Act, 2010 (Act 804), EOCO has imposed a freeze on the acquisition process, effectively pausing all transactions between the involved parties until the investigation is completed.

This action was prompted by concerns raised over the legitimacy of the mine’s transfer, with the Prestea-Bogoso Mine being a significant asset in Ghana’s mining industry.

The directive, signed by EOCO’s Executive Director, Mrs. Maame Yaa Tiwaa Addo-Danquah, emphasizes immediate compliance by the Minerals Commission to expedite the resolution of the issue.

The freeze follows complaints from the current managers of the mine, Blue Gold Bogoso Prestea Limited, who allege they are being unfairly removed from their positions without just cause.