Blue Gold wins procedural ruling in $1bn Ghana arbitration case

Blue Gold Limited (NASDAQ: BGL) received a favorable procedural ruling in its arbitration case against the Republic of Ghana, administered by the Permanent Court of Arbitration.

The tribunal rejected Ghana's request to split the $1 billion arbitration into three separate stages on April 10, 2026. Ghana had requested on February 27, 2026 to address jurisdiction, liability, and damages in distinct phases.

In Procedural Order No. 3, the tribunal stated it was "not persuaded that bifurcation or trifurcation is appropriate at this stage," citing potential overlap between Ghana's objections and the factual issues underlying the dispute's merits, as well as risks of duplicating time, cost and effort.

The arbitration commenced on April 2, 2025 under the Agreement between the United Kingdom and Ghana for the Promotion and Protection of Investments, signed March 22, 1989. Blue Gold and Future Global Resources Limited filed their joint response to Ghana's request on March 13, 2026.

"We welcome the Tribunal's decision which ensures the merits of the Company's Treaty claims will now be decided by the international tribunal on a single, consolidated track much more quickly and efficiently," said Andrew Cavaghan, CEO of Blue Gold.

The company, represented by Mayer Brown, will continue preparing its Memorial on the Merits as the next filing in the arbitration proceedings. Blue Gold described itself as remaining open to a constructive resolution with Ghana.

The information was disclosed in a company press release statement.

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