Court restrains BCM, Adamus Resources

An Accra High Court last Tuesday granted an interlocutory injunction sought by African Champions Industries (ACI), a wholly owned Ghanaian company, ordering BCM International, a mining concern and Adamus Resources, to pay gold export proceeds to court, pending the resolution of a dispute relating to due and unpaid mining royalties owed ACI.

 

The High Court also restrained BCM and Adamus Resources from ending the proposed assignment of the Nzema Mine between the two companies until the resolution of the dispute.

 

The African Champions Limited, (ACI), original owners of the Nzema Mine, has commenced arbitration against Adamus Resources and BCM International in the case in which BCM International, a foreign owned firm, has refused to pay royalties to ACI in violation of existing agreement.

 

The BCM, an Australian mining company in Ghana, has for 10 months halted payment of outstanding royalties owed ACM, from operations of the Nzema mine at Teleku Bokazo, in the Western Region of Ghana.

 

In its application to the High Court for interlocutory injunction order 25 R. 1(7) C.1.472004, which was granted on October 9, 2018, the plaintiff sought and was granted the injunction restraining Adamus Resources and BCM International from paying and or receiving monies due ACI or its agents, assigns, associates under the sale of the mining concession known as Nzema Mine, pending the final determination of the matter.

 

The ACI also sought the court intervention in the preservation of three per cent of the net profit from the mine of one per cent of the sales of turnover, whichever is higher from January 2018, to a High Court interest bearing account or as the court may deem fit until final determination of the matter.

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