By Francis Kobena Tandoh
The government has granted Adamus Resources Limited a 12-month reprieve to revive and turn around its mining operations, according to a statement from the Presidency on Friday.
The statement, signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications said the reprieve follows a meeting at the Presidency aimed at resolving the dispute between the two parties.
Under the arrangement, the Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources are to prepare a 12-month turnaround roadmap.
A six-member management team, comprising three representatives from government and three from Adamus, will supervise the implementation of the roadmap and efforts to restore the mine’s operations.
The plan will also address Adamus’ outstanding liabilities to the Ghana Revenue Authority (GRA), Minerals Income Investment Fund (MIIF), financial institutions and suppliers. Government and the company will explore options for injecting fresh capital, including bringing in additional investors to acquire equity in the operation.
The latest intervention comes after government revoked Adamus’ Akango, Salman and Nkroful mining leases in April over alleged breaches of Ghana’s mining laws. The revocation was upheld by Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah on August 10 following a ministerial review.
The government and Adamus are expected to submit the completed turnaround roadmap to the Presidency within two weeks. Enditem
Source: Ghana Eye Report
Find the statement issued by the Presidency Communications below;
