The Ministry of Lands and Natural Resources has moved to clarify the revocation of Adamus Resources Limited’s mining leases, insisting the company’s assets are not up for sale, contrary to some reports circulating.
In a statement issued on Wednesday, the ministry said the revocation should not be read as a government decision to sell the affected company or transfer its assets to another investor.
According to the ministry, the state has a duty, through the Minerals Commission and other regulatory bodies, to ensure the country’s mineral resources are exploited lawfully and in the interest of Ghanaians. Where a mining rights holder breaches the terms of its lease or the law, it said, government is obligated to act.
The ministry said the decision on Adamus Resources was based purely on compliance and legality, not any intention to hand the company’s assets to a preferred buyer, and dismissed suggestions that the revocation was a precursor to a sale as speculative.
Reasons for the revocation
The ministry’s statement outlined the breaches uncovered by the Minerals Commission that informed the decision:
- Mining outside permitted areas — Adamus was found to have conducted mining activities outside its approved concession without securing an Operating Permit from the Chief Inspector of Mines, a breach of Regulation 200(1)(b) of the Minerals and Mining (Health, Safety and Technical) Regulations.
- Regulatory non-compliance — The commission also flagged broader breaches of statutory and operational requirements governing responsible and safe mining. The revocation itself was carried out under section 5(1) of Act 703, on the commission’s recommendation.
- Financial defaults — The commission established that Adamus had outstanding financial obligations tied to its mining operations, with the ministry stressing that lease holders must meet both technical and financial obligations to the state.
The ministry said there is currently no government decision to sell Adamus Resources or its assets, and reiterated its commitment to transparency and due process in managing Ghana’s mineral resources.
