An Australian gold mining company, Cassius Mining Limited, has intensified its legal battle against the Ghana by filing a $277 million claim with the London Court of International Arbitration.
The dispute arises from alleged breaches of contract and constitutional issues related to the company’s gold exploration operations in Talensi, in the Upper East Region of Ghana.
The disagreement dates back to 2019 when the Ghanaian government rejected Cassius Mining’s request for a renewal of its prospecting license, citing constitutional non-compliance.
Authorities argued that the license had not been properly ratified in accordance with Ghanaian law, making it legally invalid.
Cassius Mining, however, disputes this and claims the government’s actions have deprived the company of its project’s full potential and future earnings.
To substantiate its claim, Cassius Mining has relied on assessments from independent experts, including AMC Consultants in Australia and Secretariat in the United States, leading to the $277 million compensation figure.
Managing Director of Cassius Mining,David Chidlow, conveyed strong confidence in their legal approach. In an interview with the Daily Graphic stated “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.”
The legal process has been challenging. In 2023, Ghana’s High Court imposed an injunction preventing Cassius Mining from seeking international arbitration.
The court also ruled that the terms of the prospecting license barred the company from pursuing arbitration outside of Ghana. Despite these rulings, Cassius Mining has moved ahead with its claim in the London Court of International Arbitration, asserting its right to seek resolution in an international forum.
