The government has granted Adamus Resources Limited a reprieve and directed the company, together with the Ministry of Lands and Natural Resources and the Minerals Commission, to develop a 12-month roadmap to revive its mining operations.
The decision follows a meeting at the Presidency aimed at resolving a dispute between the government and Adamus and finding a way to “salvage what is one of the few operating indigenous large-scale mines” in Ghana.
Under the agreement, a six-member management team comprising three representatives from Adamus and three from the government will be established to supervise the turnaround of the mine.
The Presidency said the roadmap would include measures to address Adamus’ outstanding liabilities to the Ghana Revenue Authority, the Minerals Income Investment Fund (MIIF), financial institutions and suppliers.
It will also examine options for injecting fresh capital into the operation, including inviting additional partners to acquire equity in the mining business.
The government said the arrangement was reached following efforts by the two parties to resolve their differences and preserve the mine.
“The roadmap will include a plan for settling liabilities by Adamus to Ghana Revenue Authority, Minerals Income Investment Fund, Financial institutions and suppliers,” the statement said.
It added that the roadmap would also include “exploring means to inject fresh capital by inviting additional partners to take up equity in the mining operation.”
The parties are expected to submit the completed roadmap to the Presidency within two weeks.
The development is intended to provide a framework for addressing the company’s financial obligations while restoring the mine to sustainable operations.
