NEW YORK, May 06, 2026 (GLOBE NEWSWIRE) -- Blue Gold Limited (Nasdaq: BGL) ("Blue Gold" or the "Company"), a next-generation gold exploration, development and mining company, today provided an update on its arbitration proceedings against the Republic of Ghana, administered by the Permanent Court of Arbitration ("PCA") under PCA Case No. 2025-21.
The $1bn plus arbitration between Blue Gold, Future Global Resources Limited ("FGRL"), and the Government of Ghana commenced on April 2, 2025 pursuant to the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of Ghana for the Promotion and Protection of Investments, signed on March 22, 1989 ("the Treaty"). The PCA serves as registry in the arbitration.
On 27 February 2026, Ghana requested the Tribunal to split (or "trifurcate") the case into three separate stages: a first stage to address the Tribunal's jurisdiction, a second stage to address Ghana's liability (if needed), and a third stage to finally address any damages issues (if also needed).
On 13 March 2026, the Company, together with FGRL, submitted their joint response.
On 10 April 2026, the Tribunal issued its Procedural Order No. 3, rejecting Ghana's request. As the Tribunal stated (in its order published by the PCA), it was "not persuaded that bifurcation or trifurcation is appropriate at this stage", citing, among other things, the potential overlap between Ghana's objections and the factual matrix underlying the merits of the dispute, as well as the risk of duplication of time, cost and effort.
Responding to this decision, Andrew Cavaghan, CEO of Blue Gold, stated, "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 than it would otherwise have been. Blue Gold remains focused on advancing its claims in a disciplined and constructive manner, while remaining open to a constructive resolution with the Republic of Ghana, for as long as this remains possible."
Represented by Mayer Brown, the Company will now continue preparing its Memorial on the Merits, the next substantive filing in the arbitration.
Further details on the case can be found on the PCA's website here: https://pca-cpa.org/en/cases/374/.
About Blue Gold Limited
Blue Gold Limited (Nasdaq: BGL) is a next-generation gold exploration, development and mining company focused on acquiring and aggregating high-potential mining assets across strategic global jurisdictions. The Company's mission is to unlock untapped value in the gold sector by combining disciplined resource acquisition with innovative monetization models, including asset-backed digital instruments. Blue Gold is committed to responsible development, operational transparency, and leveraging modern financial technologies to redefine how gold is produced, accessed, and owned in the 21st century.
Blue Gold prioritizes growth, sustainable development, and transparency in all our business practices. We believe that our commitment to responsible mining will enable us to create value for our shareholders while minimizing our environmental footprint.??
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For Further Information Contact:
Dave Gentry
RedChip Companies, Inc.
1-800-REDCHIP (733-2447)
1-407-644-4256
BGL@redchip.com
