Australian Mining Firm Sues Ghana for $277m in Bitter Gold Contract Dispute

Talensi, Upper East Region, Ghana - Dec 26, 2024 - A long-simmering dispute between the Ghanaian government and Australian gold mining firm Cassius Mining Limited has escalated into a $277 million lawsuit.

The company has filed a claim at the London Court of International Arbitration, alleging breaches of contract and constitutional conflicts related to its gold exploration project in Talensi, Upper East Region.

The roots of the conflict date back to 2019, when Ghana's government refused to renew Cassius Mining's prospecting license, citing constitutional non-compliance. The company disputes this, arguing that the government's actions deprived them of significant earnings from the project.

Despite facing setbacks, including a Ghanaian High Court injunction barring international arbitration, Cassius Mining has pressed on with its claim. The company's Managing Director, David Chidlow, in an interview with Daily Graphic, expressed confidence in their legal strategy, stating that they look forward to achieving a successful outcome for shareholders and the company.

“We look forward to progressing the case and achieving a successful outcome for the benefit of shareholders and the company, whether that be at a hearing or through an earlier settlement,'' he stated.

Source: Lead News Online