Australian miner Cassius Mining files $277m claim against Ghana over gold project dispute

Cassius Mining Ltd., an Australian gold mining company, has escalated its legal battle with the Ghanaian government by filing a $277 million claim with the London Court of International Arbitration.

The company alleges breaches of contract and constitutional disputes surrounding its gold exploration project in the Talensi district of the Upper East Region.

The dispute stems from the non-renewal of Cassius Mining’s prospecting license by the Ghanaian government in 2019. The government argued that the license had not been properly ratified under the Ghanaian constitution, rendering it invalid.

Cassius Mining maintains that this action by the Ghana government has deprived them of the full value and potential profits of their gold exploration project. The company’s claim, totaling $277 million, was prepared with the assistance of independent experts from AMC Consultants in Australia and Secretariat in the United States.

BoG to Boost fuel supply stability with $120m BDC forex auctions

The legal battle has seen its share of twists and turns. In 2023, the High Court in Ghana issued an injunction preventing Cassius Mining from pursuing international arbitration. Later that year, the court further ruled that the company could not pursue arbitration outside of Ghana under the terms of the prospecting license.

However, Cassius Mining has proceeded with its international arbitration claim, asserting its right to seek a resolution through the London Court of International Arbitration.

Cassius Mining Managing Director David Chidlow in an interview with Daily Graphic expressed confidence in the company’s legal team and their ability to achieve a successful outcome. “We look forward to progressing the case and achieving a successful outcome for the benefit of shareholders and the company, whether that be at hearing or any earlier potential settlement,” he stated.

The Ghanaian government is now expected to file a defense to the claim, presenting its arguments and evidence to the court.

Akufo-Addo approves visa-free travel for African citizens ahead of 2025

The post Australian miner Cassius Mining files $277m claim against Ghana over gold project dispute first appeared on 3News.

Read Full Story