ACCRA, Ghana, 21st August: Adamus Resources Limited has received a reprieve from the government following an agreement aimed at salvaging the mining operation and resolving outstanding issues between the two sides.
The Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources have been tasked to develop a 12-month roadmap to turn around the fortunes of the mine.
According to a statement issued by Felix Kwakye Ofosu, spokesperson to President John Dramani Mahama and Minister of Government Communications, the roadmap will be overseen by a six-member management team, comprising three representatives from Adamus Resources and three from the government.
The agreement was reached following a meeting at the Presidency to resolve the dispute between the government and Adamus Resources and safeguard what has been described as one of the few operating indigenous large-scale mining companies in Ghana.
As part of the turnaround plan, the roadmap will outline measures to settle outstanding liabilities owed by Adamus Resources to key institutions, including the Ghana Revenue Authority (GRA), Minerals Income Investment Fund (MIIF), financial institutions and suppliers.
The parties will also explore options for injecting fresh capital into the mining operation, including the possibility of bringing in additional partners to acquire equity in the company.
The Ministry of Lands and Natural Resources, Minerals Commission and Adamus Resources are expected to present the completed 12-month roadmap to the Presidency within two weeks for consideration.
The latest development is expected to provide a structured path towards addressing the company’s financial obligations, securing fresh investment and restoring the long-term viability of the mine.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭