Adamus Resources Limited has secured a temporary reprieve from government following high-level engagements aimed at resolving a dispute threatening the future of one of Ghana’s indigenous large-scale mining operations.
According to a statement issued by the Presidency on Friday, the Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources have been directed to develop and present a comprehensive 12-month roadmap to revive and stabilise the mining company.
The intervention follows a meeting at the Presidency intended to find a lasting solution to challenges facing the company and safeguard continued operations in the mining sector.
As part of the arrangement, a six-member management team will be established to oversee implementation of the turnaround strategy. The committee will comprise three representatives from Adamus Resources and three representatives from government, creating a joint oversight mechanism aimed at ensuring accountability and timely execution of agreed reforms.
The roadmap is expected to address the company’s outstanding financial obligations, including liabilities owed to the Ghana Revenue Authority (GRA), the Minerals Income Investment Fund (MIIF), financial institutions and suppliers.
Beyond debt restructuring and settlement plans, the strategy will also explore opportunities to attract fresh investment into the mining operation. Government and the company are expected to consider bringing in additional strategic partners and equity investors to strengthen the firm’s capital base and support long-term sustainability.
Industry observers view the Presidency’s intervention as a move to preserve jobs, protect mining output and maintain confidence in Ghana’s extractive sector at a time when access to capital remains a key challenge for many mining firms.
The statement indicated that the Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources are expected to submit the proposed roadmap to the Presidency within two weeks.
The directive was communicated by Felix Kwakye Ofosu, spokesperson to the President and Minister for Government Communications.
The development offers Adamus Resources a critical window to restructure its operations and finances, while providing government with an opportunity to oversee a recovery process aimed at securing the future of a strategically important mining asset.
Source: businesspostonline
