Government gives Adamus Resources reprieve, orders 12-month turnaround plan
The government has given mining firm Adamus Resources Limited a fresh opportunity to revive its mining operations, days after upholding the revocation of three of the company’s mining leases following months of regulatory scrutiny and a dispute over alleged breaches of Ghana’s mining laws. Under a new arrangement announced by the Presidency on Friday, August […]
The Ghanaian government has granted Adamus Resources Limited a 12-month turnaround plan to revive its mining operations, following the revocation of three of the company's mining leases. The decision comes after months of regulatory scrutiny and a dispute over alleged breaches of Ghana's mining laws. A six-member management team, comprising three representatives from Adamus and three from the government, will oversee the mine's revival.
The agreement aims to salvage one of the few operating indigenous large-scale mines in the country. The government and Adamus will also explore ways to inject fresh capital into the operation by bringing in additional partners to take equity in the mining business.
Brief written by urgent.news from Joy Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
