The government has given Adamus Resources Limited a reprieve following discussions aimed at resolving the challenges confronting the mining company and restoring its operations.
The Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources have been tasked with developing a 12-month roadmap to turn around the operations of the mine.
The decision follows a meeting at the Presidency involving representatives of the government and Adamus Resources, as part of efforts to resolve the dispute and safeguard one of Ghana’s few operating indigenous large-scale mining companies.
Under the proposed arrangement, a six-member management team comprising three representatives from Adamus Resources and three from government will be established to oversee the implementation of the turnaround plan.
The roadmap is expected to address the company’s outstanding liabilities to key institutions and creditors, including the Ghana Revenue Authority (GRA), Minerals Income Investment Fund (MIIF), financial institutions and suppliers.
This announcement was contained in a statement signed by Felix Kwakye Ofosu, spokesperson to President John Dramani Mahama and Minister for Government Communications
It will also explore options for raising fresh capital for the mining operation, including the possibility of bringing in additional investors to acquire equity in the company.
The government and Adamus Resources are expected to present the completed roadmap to the Presidency within two weeks.
The initiative is aimed at resolving the impasse, securing the future of the mine and protecting the interests of workers, the state and other stakeholders connected to the operation.
