Gov’t to form 6-member team to supervise Adamus mine turnaround

The government is set to establish a six-member management team to oversee the restoration of Adamus Resources Limited's mining operation, according to a new 12-month roadmap agreed upon by the presidency. The team, consisting of three representatives from Adamus and three from the government, will focus on restoring the mine's operations.

This decision stems from a meeting aimed at resolving a dispute between the government and Adamus Resources following the revocation of three of the company’s mining leases. The Ministry of Lands and Natural Resources, the Minerals Commission, and Adamus Resources were requested to present a 12-month plan to revive the mine, which is one of Ghana’s few operating indigenous large-scale mines.

The revocation of Adamus Resources’ Akango, Salman, and Nkroful mining leases occurred after the Minerals Commission found alleged breaches of mining regulations, including unauthorized mineral rights assignment, mining outside approved areas, and failure to obtain necessary permits. The government upheld the revocation after receiving a final report from an Inter-Ministerial Committee, directing the Minerals Commission to take administrative control of the mine.

Adamus Resources rejected the decision and plans to challenge it, arguing that the government did not follow proper procedures. Under the new agreement, the government and Adamus will jointly manage the turnaround process, and the company must develop a plan to settle its liabilities to various stakeholders. Additionally, both sides aim to explore ways to inject fresh capital into the operation by bringing in additional partners to take equity in the mining business. The finalized roadmap is expected to be presented to the presidency within two weeks.