Resolute Amansie Ltd Vrs Amansie Resources Ltd and 2 Others [2023] GHAHC 367 (24 January 2023)

Resolute Amansie Ltd Vrs Amansie Resources Ltd and 2 Others [2023] GHAHC 367 (24 January 2023)

Plaintiff is entitled to recovery of US$2,000,000.00 as gold production royalty, with interest, based on unchallenged expert evidence of gold mined and contractual obligations; Defendants' failure to render accounts and challenge evidence confirms breach and liability.

Citation
Resolute Amansie Ltd Vrs Amansie Resources Ltd and 2 Others [2023] GHAHC 367 (24 January 2023)
Parties
Plaintiff: Resolute Amansie Ltd; 1st Defendant: Akoase Resources Ltd; 2nd Defendant: BXC Company; 3rd Defendant: Cheng Yi
Court
ghahc
Jurisdiction
Ghana
Judgment Date
24 January 2023
Procedural Posture
Commercial Civil Suit / Final Judgment
Outcome
Judgment for Plaintiff
Legal Topics
Sale and Purchase Agreement, Royalty Payment, Interest Calculation, Expert Evidence, Breach of Contract
Source Language
eng
Contract Law Commercial Law Mining Law Sale and Purchase Agreement Royalty Payment Interest Calculation Expert Evidence Breach of Contract

Case Brief

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Parties

Resolute Amansie Ltd

Plaintiff

Akoase Resources Ltd

1st Defendant

BXC Company

2nd Defendant

Cheng Yi

3rd Defendant

Procedural Posture

Commercial Civil Suit / Final Judgment

Legal Issues

  1. 1 Whether Plaintiff is entitled to recovery of outstanding purchase price and royalties under the Sale and Purchase Agreement
  2. 2 Whether Defendants breached contractual obligations by failing to render accounts and pay royalties
  3. 3 Whether Plaintiff is entitled to interest and costs

Ratio Decidendi

Plaintiff is entitled to recovery of US$2,000,000.00 as gold production royalty, with interest, based on unchallenged expert evidence of gold mined and contractual obligations; Defendants' failure to render accounts and challenge evidence confirms breach and liability.

Court Disposition

Judgment for Plaintiff

Orders

  • Defendants to pay Plaintiff US$2,000,000.00 or cedi equivalent as gold production royalty.
  • Interest on US$1,320,000.00 at 5% per annum from 4th June 2022 until full payment.