Adamus Resources Limited gets reprieve from government

The Ministry of Lands and Natural Resources, along with the Minerals Commission and Adamus Resources Limited, have been requested by the government to develop a 12-month plan to revitalize the mine. According to a statement from Mr. Felix Kwakye Ofosu, the Presidential Spokesman and Minister of State responsible for Government Communications, the plan will involve forming a six-member management team comprised of three members from Adamus and three from the government.

This committee will oversee the mine's turnaround. The agreement followed a meeting at the Presidency to address the dispute between the two parties and save one of Ghana's few operating indigenous large-scale mines. The road map will encompass a strategy for settling Adamus' debts to the Ghana Revenue Authority, the Minerals Income Investment Fund, financial institutions, and suppliers.

Additionally, it will explore ways to bring in additional capital by inviting more partners to invest in the mine. The two sides are expected to present the road map to the Presidency within two weeks.