Exton Cubic, the mining firm whose license over the Nyinahini mining area has been revoked by government, says it will do everything within its power to defend its right.
The Minister of Lands and Natural Resources, Peter Amewu, has explained that the directive to revoke the license was issued because the company’s three mining leases were invalid.
He said the company’s failure to provide key documents covering its acceptance of the lease, notice of pendency, environmental impact assessment and other statutory requirements rendered the leases invalid.
“The absence of publications of the Gazette of notice of the pendency of the company’s applications and service of the notice on the various entities specified in the law is contrary to both section 13(2) of Act 703 and Regulation 177 of L.I. 2176 [Minerals and Mining Regulations.],” portions of the directive said.
But an Exton Cubic statement intercepted by StarrFMonline.com Thursday said the move by the ministry undermines the President’s agenda to promote private businesses.
It warned it will explore all relevant avenues to seek redress in the matter. “The grounds assigned for the revocation or invalidation of the leases whichever one you really mean, have earlier been denied by this company in our press releases dated August 28, 2017.
“We wish to unequivocally state that Exton Cubic group limited has complied with both its legal and regulatory obligations at all times material in the execution of leases and that the company at no time defaulted in its obligation under the lease agreement. We are by this letter expressing our disappointment at the decision and state that the reasons for your actions are not borne by the facts and the evidence on record.
“We consider your action arbitrary and gross abuse of executive power. We believe such unfair treatment meted out to an indigenous Ghanaian company runs against President Akufo-Addo’s mantra of I believe in Ghana,” the statement said..
“We wish to inform you that our company intends to do all that is possible within the remit of the law to protect and realise its rights under leases. Our lawyers have been instructed in this regard”