Mining firm, Exton Cubic Group, has lamented that the revocation of their exploration permit by government will deter private investors from creating jobs in Ghana.
In a fresh letter addressed to the Minister of Lands and Natural Resource, and signed by Managing Director of Exton Cubic, Augustus Amegashie, the company said “your action in disrespecting the sanctity of signed agreements will deter the potential private investments needed to create more jobs.”
[contextly_sidebar id=”IG9pckm9ndPoLpJBZCortBfYqP202mYv”]The Lands Minister, John Peter Amewu, last week announced that Exton Cubic has not met all the legal requirements to permit the company to prospect for bauxite in the Tano-Offin Forest Reserve in the Ashanti Region, thus rendering their three mining leases invalid.
Earth moving equipment and vehicles belonging to Exton Cubic’s sub-contractor, Ibrahim Mahama’s Engineers and Planners (E&P), had earlier been impounded at Nyinahin, the town where the forest reserve is located, on the orders of the Ashanti Regional Minister, Simon Osei Mensah, following suspicions the mining company was operating illegally.
The letter from Exton Cubic sighted by citifmonline.com, further expressed disappointment over the revocation of their permit describing it as “arbitrary and a gross abuse of executive power.”
“We are by this letter expressing our disappointment at your decision, and state that the reasons for your action are not borne by the facts and the evidence on record. We believe that such unfair treatment meted out to an indigenous Ghanaian company runs against his Excellency President Akufo-Addo’s mantra of ‘I believe in Ghana’,” the letter added.
Exton Cubic’s Managing Director also lamented that the revocation will affect their investments in the sector.
“Your unilateral decision to ‘revoke’ or ‘invalidate’ the leases threaten to jeopardize the massive investments we have made in the bauxite project and also cause us to default our firm off-take agreements with our international partners. We wish to inform you, that our company intends to do all that is possible within the remit of the law to protect and realize its rights under the leases. Our lawyers have been instructed in this regard,” he added.
Although there are indications the company may be considering a legal action against government, no concrete decision has been taken in that regard by the company.
By: Godwin Akweiteh Allotey/citifmonline.com/Ghana