Accra: Blue Gold Limited has announced a procedural victory in its ongoing arbitration proceedings against the Government of Ghana in the US$1 billion dispute over the Bogoso-Prestea Mine. The arbitration, which involves Blue Gold and Future Global Resources Limited, is being administered by the Permanent Court of Arbitration in The Hague.
According to Ghana Web, the dispute began when the Akufo-Addo administration awarded the mine concession to Heath Goldfields Ghana Limited, a company owned by former Finance Minister Dr. Kwabena Duffuor. Blue Gold attempted to engage the previous Mahama government for a review, but no action was taken. The arbitration formally commenced on April 2, 2025, under the bilateral investment treaty signed by Ghana and the United Kingdom in 1989.
The Office of the Attorney-General and Ministry of Justice has enlisted Gateley Legal and Atuguba and Associates to assist in defending against the US$1 billion damages claim. On February 27, 2026, Ghana proposed dividing the proceedings into three stages, but on April 10, 2026, the tribunal rejected this request. The tribunal cited potential duplication of time, cost, and effort as reasons for the rejection.
Andrew Cavaghan, CEO of Blue Gold, expressed satisfaction with the tribunal's decision, emphasizing that it allows the company's claims to proceed more efficiently. He stated a commitment to pursuing claims constructively while remaining open to a resolution with Ghana's government. Blue Gold plans to proceed with preparations for its next substantive filing, the Memorial on the Merits.
The arbitration is part of a trend of international investment disputes involving Ghana's mining sector. The Government of Ghana has not commented on the tribunal's latest procedural ruling. A statement from The Hague provided a chronology of events, including procedural meetings and requests for temporary restraining orders.
The dispute resolution is facilitated by the Permanent Court of Arbitration, an intergovernmental organization headquartered at the Peace Palace in The Hague. The PCA administers various arbitration and dispute resolution proceedings among states, organizations, and private parties.