Adamus mining lease revocation is a regulatory decision; not meant to sell assets – Lands Ministry

The Ministry of Lands and Natural Resources has clarified the revocation of Adamus Resources Limited’s mining leases, asserting that the company’s assets are not up for sale, despite rumors circulating. The Ministry emphasized that the revocation is a result of compliance and legality concerns, not a government decision to sell assets or transfer them to another investor.

The state, through regulatory bodies like the Minerals Commission, is committed to ensuring Ghana’s mineral resources are exploited responsibly and in the interest of Ghanaian citizens.

Adamus Resources was found guilty of several infractions, including mining beyond permitted areas without an Operating Permit, and broader regulatory non-compliance. These breaches were uncovered by the Minerals Commission and served as the basis for the revocation. Additionally, the commission identified financial defaults tied to Adamus’s mining operations, stressing that leaseholders must fulfill both technical and financial obligations to the state.

According to the Ministry, the revocation was carried out under section 5(1) of Act 703, following the recommendation of the Minerals Commission. The decision to revoke Adamus’s mining leases is unrelated to any intention to sell the company or its assets, with the Ministry reiterating its commitment to transparency and due process in managing the country’s mineral resources.