Cassius Claims Ghana for Lost Gold Mine Profits

Cassius Mining Limited has filed a claim against the Ghanaian government for lost profits, stating it missed out on opportunities to manage a gold mine in its licensed area.

The company’s Gbane project, located in northeastern Ghana, holds a large prospecting license that spans 13.8 km². This site lies in the Talensi district, adjacent to the operational Shaanxi gold mine.

Prolonged Dispute with Shaanxi

Cassius is embroiled in a long-standing conflict with Shaanxi, the Chinese firm managing the nearby mine. Investigations by the Sydney Morning Herald and local sources allege that Shaanxi has illegally accessed Cassius’s concession, extracting tens of millions of dollars in gold.

Further complicating matters, Shaanxi, now operating under the name Earl International, has faced serious accusations for aggressively preventing small-scale miners from accessing their site. Reports claim that toxic gas releases from their operations led to the deaths of 16 individuals, while over 60 miners are said to have died in incidents at Shaanxi’s mines since 2013.

According to Cassius, the Ghanaian government has failed to address these serious allegations. Instead, it halted Cassius’s project in 2019, citing “constitutional non-compliance.”

“Ghana’s actions, particularly its refusal to renew Cassius’s prospecting licence, have stripped Cassius of the full value and profits from its gold project in Ghana,” the company noted in its press release.

To substantiate its claim, Cassius has enlisted experts from AMC Consultants in Perth, Australia, and the Secretariat in Washington, D.C. As of now, the Ghanaian government has not yet submitted any documents to the tribunal, according to Cassius.