Bright Simons, Vice President of IMANI Africa, has uncovered shocking details surrounding Mech Resources’ acquisition of a multi-million-dollar gold mining lease. Apexnewsgh reports
The company, owned by the children of former Chief of Staff Frema Opare, allegedly obtained the lease under dubious circumstances, with the Minerals Commission fast-tracking the process despite glaring discrepancies.
According to Simons, Mech Resources had no prior experience in mining or related industries, yet was not required to provide evidence of skilled mining personnel or demonstrate financial capability to fund the $25.8 million initial investment. Instead, the company submitted basic financial projections and a general outline of its plans, which was deemed sufficient for a lease covering 9,000 acres of gold-rich land valued at approximately $1.38 billion.
Red Flags Raised
Simons pointed out several red flags, including Mech Resources’ failure to hire a professional accountant to prepare its financial projections. The application allegedly contained weak discount factoring, poor sensitivity analysis, and a failure to account for the impact of royalties. Furthermore, the company did not disclose which specific water bodies would be affected by its mining activities, despite requests from examining officers.
Conflict of Interest Concerns
Simons also raised concerns about Maata Osei Opare, a key figure in Mech Resources, who serves as the Head of Legal at Fidelity Bank and sits on the board of the Electricity Company of Ghana (ECG). Simons believes that Fidelity Bank’s previous lawsuit against him was aimed at blocking further scrutiny into deals between the bank and ECG.
Fast-Tracked Approval and Wider Implications
The lease recommendation was reportedly ready within six weeks, despite the numerous discrepancies. Simons suspects that this case is not isolated, as four additional gold mining leases linked to the same family have also been fast-tracked. In total, they have applied for 23 mining and prospecting licenses, with five already granted.
Simons accused the Minerals Commission of enabling politically connected individuals to sidestep mining regulations, highlighting the need for greater transparency and accountability in the industry.
Read Bright Simons’ post on X below:
