Contrary to claims by the Economic advisor to Ghana’s Vice President that Exton Cubic Group ltd, a company owned by business magnate and younger brother of President Mahama, Ibrahim Mahama was gifted 56% of Ghana’s bauxite concession on the eve of the NDC leaving office, documents intercepted by www.thenewstateman.com reveal that Exton Cubic actually underwent a rather exhaustive process of getting the concession and it also turned out that it was not true that Mr. Mahama’s company holds 56% of Ghana’s total bauxite deposit.
According to geological data cited by us, Ghana has 3 bauxite concessions namely the Nyinahin, Awaso and the Atiwa concessions. The Awaso concession has been awarded to a Chinese company whilst the Nyinahin has been awarded to Exton Cubic ltd leaving only the Atiwa concession.
When reached for more details on their concession, an aid to Mr. Ibrahim Mahama could not understand why the Government of Ghana which is supposed to protect and help indigenous Ghanaian grow should rather be the one trying to destroy a local company wholly owned by Ghanaians, he stated that apart from creating jobs for Ghanaians, Exton Cubic will not repatriate its earnings but rather bring home to Ghana foreign eaxchange that will boost our foreign currency reserve for a stronger cedi and economy.
The aid to Mr. Mahama confirmed the authenticity of the documents in our possession which showed a historical exploration timelines of various companies attempting to mine the Nyinahim concession but failed dating back from 1922-1927 when the first attempt was made by the then Gold Coast Geological departments when bauxite was first discovered but could not be mined right through periods of unsuccessful attempts by other companies until Exton Cubic ltd entered in 2013’
According to one of the intercepted documents titled “Summary of Events Leading to Acquisition of Nyinahin Bauxite Mining Lease”, Exton Cubic first made an application for due diligence on 23rd of May 2013 to the Minerals commission and permit for due diligence was granted on the 14th of August 2013, the documents captured detailed 45 processes of application steps with the final process of granting of mining lease from the Lands commission taking place on the 9th of January 2017.
Our checks from all the agencies that are supposed to oversee the process for the granting of mining lease showed that Mr. Ibrahim Mahama never used the office of his brother as President to bully his way through but went through all the legal processes for the lease.
Attached to the story are documents showing how Exton Cubic arrived at acquiring the lease
Time line Summary
Exton Cubic Trail of Processes
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