Mining sector delivers over GH₵2bn in royalties in Q1

The Ghana Chamber of Mines has welcomed a government-backed roadmap to resolve the dispute involving Adamus Resources Limited, saying the agreement could help protect jobs, investment and the future of one of the country's few indigenous large-scale mining operations.

The government has granted Adamus Resources Limited a 12-month reprieve to develop and implement a roadmap aimed at turning around its mining operations.

The Ministerial Review committee’s findings on Adamus Resources lease Revocation revealed that the company had accumulated GH¢86.78 million in royalty arrears payable to the Minerals Income Investment Fund (MIIF) since 2020.

An independent audit of the Domestic Gold Purchase Programme (DGPP) from its inception in 2021 is expected to shed fresh light on the financial cost and operations of the state’s gold-buying initiative, the Ghana Gold Board (GoldBod) has said.

The government has inaugurated a negotiations team to lead discussions with a strategic investor for the modernisation and expansion of the Volta Aluminium Company Limited (VALCO), as it seeks to revive the struggling smelter and strengthen the aluminium value chain.

The Cocoa Marketing Company (Ghana) Limited (CMC) has launched a 24-hour operating model aimed at removing bottlenecks in the movement of cocoa from take-over centres to local processors, ports and international markets.

The Ghana Chamber of Mines has raised concerns over regulatory certainty and due process following government’s decision to uphold the revocation of three mining leases held by Adamus Resources Limited.

The Minister for Finance, Dr Cassiel Ato Forson, says Ghana now spends less than 20 percent of its revenue on debt servicing, down from about 50 percent in the past.