News: RSG Resolute Mining Says Mining Lease For Bibiani Gold Mine Terminated, page-136

I just thought I would mention that in the end it was NOT the evil Ghanian Government taking away the Mining Rights of the poor, oppressed mining company as so many here suggested on this announcement.

Reading the press release from yesterday the Ghanaian government were clearly upset they had not been consulted prior to the PR going out.

"any purported sale, assignment or transfer of a right in the mine to a third party requires the prior approval of the Ghanaian Government in accordance with the Ghanaian Mining Act "

Its written in plain English and is found in the Act. All the embarrassment could have been avoided by having a simple informal meeting with the authorities prior to the announcement. They would have been advised that the transaction would likely not be approved. They also would have been advised to seek approval in writing and wait for that approval, prior to any announcement. This is how things work there; they like procedure and respect, English style.

I'm actually very pleased for the people of Ghana that they were stopped from selling this mine to the Chifeng. Chinese companies have a reputation for nothing giving much back in their exploitation of natural resources, and I do not believe the transaction was considered in the interest of the local population or the government. These things are actually important, and for the record it has little to do with "Corp social responsibility", its just plain common sense.