Adamus Resources Limited has been given a reprieve after the government directed the company and relevant mining authorities to develop a 12-month roadmap to restore the mine to viable operations.

The decision followed a meeting at the Presidency involving the Ministry of Lands and Natural Resources, the Minerals Commission and Adamus Resources Limited to resolve the dispute between the government and the mining company.

Under the agreement, a six-member management team will be established to oversee the turnaround process.

The team will comprise three representatives from Adamus Resources and three representatives from the government.

The roadmap is expected to outline measures to address the financial and operational challenges confronting the mine, including a plan to settle liabilities owed to the Ghana Revenue Authority, the Minerals Income Investment Fund, financial institutions and suppliers.

It will also examine options for raising fresh capital for the mining operation, including the possibility of bringing in additional partners to acquire equity in the company.

The government says the initiative is aimed at salvaging Adamus Resources, one of the few indigenous large-scale mining operations currently operating in Ghana.

The Ministry of Lands and Natural Resources, the Minerals Commission and Adamus have been given two weeks to submit the proposed roadmap to the Presidency.

The development was announced by Felix Kwakye Ofosu, Member of Parliament and spokesperson to the President and Minister of Government Communications.