Adamus Resources Limited has been given a reprieve by the government following a meeting at the Presidency aimed at resolving the dispute between the mining company and the state.
The Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources have been tasked to develop a 12-month roadmap to turn around the operations of the mine.
As part of the roadmap, a six-member management team comprising three representatives from Adamus Resources and three from the government will be established to supervise the turnaround process.
The agreement is intended to salvage Adamus Resources, one of Ghana’s few operating indigenous large-scale mining companies, amid challenges affecting its operations.
The roadmap will also include measures to settle liabilities owed by Adamus Resources to the Ghana Revenue Authority, the Minerals Income Investment Fund, financial institutions and suppliers.
Government and the company are further expected to explore avenues for injecting fresh capital into the mining operation, including inviting additional partners to acquire equity in the company.
The Ministry, Minerals Commission and Adamus Resources are expected to present the proposed 12-month roadmap to the Presidency within two weeks.
The development follows efforts by the government to resolve the impasse and ensure the continued operation and sustainability of the mine.
By: Bernard Mensah
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