Northern Ashanti Mines challenges Minerals Commission over Konongo takeover, disputes $8.3m debt
Northern Ashanti Mines Limited (NAML) has challenged the Minerals Commission’s justification for taking over its Konongo premises, accusing the regulator of making false claims about its debt and mining activities.
Northern Ashanti Mines (NAML) has raised objections to the Minerals Commission's justification for taking over its Konongo mine. The company denies the Commission's claims of $8.3 million in debt and false assertions about its mining activities. NAML invested over $100 million in developing the mine since its acquisition in 2019 and accused the Commission of acting in bad faith.
It stated it had no prior notice of the revocation of its mining lease and prospecting licence, contrary to the Commission's claims. NAML disputed the debt figures, with an audit in May 2026 showing the debt to be around $2.4 million, separate from a previous debt of $8.3 million from the previous operator. The company had paid over $1 million towards reducing its outstanding balance.
NAML claimed it had been carrying out mining activities under permits issued by the Commission and turned to the courts to protect its investment. The company also highlighted what it called a pattern of "horrible, unlawful takeovers" of Ghanaian-owned mining assets.
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