Court restrains bcm International, Adamus Resources
The Accra High Court has granted an interlocutory injunction sought by African Champions Industries (ACI), a wholly owned Ghanaian company ordering BCM International, a mining firm and Adamus Resources to pay gold export proceeds into the court’s account, pending the resolution of a dispute relating to unpaid mining royalties owed ACI.
The High Court also restrained BCM and Adamus from closing the proposed assignment of the Nzema Mine between the two companies until the resolution of the dispute.
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.
BCM, an Australian mining company in Ghana has for 10 months halted the payment of outstanding royalties owed ACM from operations of the Nzema Mine at TelekuBokazo in the Western Region.
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.
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The ACI also appealed to the court for the preservation of three per centum of the net profits from the mine of one per centum of the sales of turnover, whichever is higher from January 2018 into a High Court interest bearing account or as the court may deem fit until final determination of the matter.
The plaintiffs were represented in Court by Equator Law.