A coalition of civil society organisations (CSOs) promoting greater Ghanaian participation in the extractive sector has welcomed the 12-month reprieve granted to Adamus Resources following a dispute over the revocation of its mining leases.
The Coalition of CSOs Promoting Indigenisation in the Extractive Sector (CoCPIES) said the decision by President John Dramani Mahama provides an opportunity to address the financial, operational and regulatory challenges facing the Ghanaian-owned mining company while allowing it to remain in the industry.
Under the arrangement, Adamus is expected to work with the Ministry of Lands and Natural Resources, the Minerals Commission and the Ghana Revenue Authority to identify practical solutions to its operational difficulties.
CoCPIES said the development should encourage the government to move Ghana’s indigenisation agenda beyond policy statements and provide practical support for local mining companies seeking to compete and expand.
The coalition has called for targeted financing mechanisms for indigenous mining companies, including a dedicated local content fund for the mining sector. It also proposed that the Mineral Income Investment Fund acquire strategic stakes in promising Ghanaian mining companies.
Other recommendations include incentives for indigenous mining firms to list on the Ghana Stock Exchange, measures to encourage pension fund investment and stronger joint ventures to improve access to capital and technology.
According to CoCPIES, Adamus is not an isolated case, with other Ghanaian-owned or significantly Ghanaian-participated mining companies also facing financing and operational challenges.
The coalition believes Ghana’s mining policy should focus not only on ownership but also on increasing local participation in extraction, processing and value creation. It has therefore called for a national roadmap addressing the financing, technology, operational and regulatory barriers confronting indigenous mining businesses.
CoCPIES said the Adamus reprieve should serve as a catalyst for a broader national conversation on strengthening Ghanaian participation in mining and ensuring that more economic value from the country’s mineral resources remains within Ghana.
