The government has agreed to work with Adamus Resources Limited on a 12-month recovery plan aimed at reviving the mining company and resolving outstanding challenges affecting its operations.
The agreement was reached at a meeting held at the Presidency as the government and Adamus sought a solution to their dispute and measures to protect the future of the indigenous large-scale mining operation.
As part of the arrangement, the Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources are to prepare a detailed roadmap for the mine’s turnaround.
A six-member management committee will be established to supervise implementation of the plan. Adamus Resources and the government will each nominate three representatives to the committee.
A key component of the roadmap will be the settlement of outstanding liabilities.
These include obligations to the Ghana Revenue Authority, the Minerals Income Investment Fund, financial institutions and suppliers.
The parties are also expected to consider ways of securing new funding for the mining operation. One option under consideration is to bring in new partners who would acquire equity in the company and provide additional capital.
The government’s intervention is intended to help preserve Adamus Resources as one of Ghana’s few operating indigenous large-scale mining companies.
The Ministry, Minerals Commission and Adamus are expected to submit the completed 12-month roadmap to the Presidency within two weeks.
Felix Kwakye Ofosu, the Member of Parliament for Abura Asebu Kwamankese and spokesperson to the President and Minister of Government Communications, disclosed the outcome.
