Adamus must settle GRA, MIIF and financial institutions liabilities under new turnaround roadmap

Adamus Resources Limited is developing a 12-month plan to settle outstanding obligations to the Ghana Revenue Authority, Minerals Income Investment Fund, financial institutions and suppliers, as part of a strategy to rejuvenate its mining activities. This initiative ensued a meeting at the presidency to address their ongoing dispute, subsequently leading to an agreement between the government, Minerals Commission and Adamus Resources.

The roadmap will be presented by a six-member management team composed of three representatives from each party and aims to address the company's financial obligations including mineral rights fees, royalties, and tax liabilities. The roadmap also explores potential methods to inject fresh capital by inviting additional partners to acquire equity in the mining operation.

This turn around plan marks a new opportunity for the government and Adamus to collaborate and restore the operation of the mine, one of Ghana's few indigenous large-scale mining ventures.