Ghana has upheld the revocation of three mining leases held by Adamus Resources, but is keeping the mine operational under government oversight as it moves to recover hundreds of millions of cedis in unpaid royalties and taxes.
The decision puts the financial management of the Nzema operation at the centre of the government’s intervention, rather than ending mining activity at the Western Region asset.
Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah said the government would ensure uninterrupted operations at the mine while a further decision on its management is made. He also said he intends to secure an order requiring Adamus to fully and promptly settle its royalty, tax and other financial obligations to the state.
The government says Adamus owes GH¢86.8 million in royalties and GH¢290.5 million in tax arrears, in addition to US$2.56 million in unpaid mineral-rights fees. The review committee also identified unexplained variances in gold exports and US$224 million in transfers to related parties abroad between 2020 and 2024.
The scale of the liabilities matters for a government seeking to increase the fiscal return from Ghana’s mineral wealth. Mineral royalty collections reached GH¢2.01 billion in the first quarter of 2026, up 40% from GH¢1.43 billion a year earlier, according to the Minerals Income Investment Fund.
Ghana’s gold sector has become important to the economy. National gold production rose 23.4% to 5.94 million ounces in 2025. But the increase was driven largely by small-scale mining, whose output jumped to 3.11 million ounces. Large-scale production fell 3% to 2.83 million ounces.
That makes continuity at existing large-scale operations particularly relevant as the government seeks to raise mining revenues and strengthen formal control over the gold industry.
Adamus is not among Ghana’s largest producers, but its Nzema mine is an established producing operation.
The mine is also economically significant beyond the gold it produces. Adamus said in April that it employed more than 3,000 Ghanaians across its group of companies, with more than 60% of its workforce drawn from its immediate host communities.
The government’s decision to maintain operations, therefore, avoids an immediate shutdown of production and employment while the ownership and management implications of the revoked leases are worked through.
The leases covering Akango, Salman and Nkroful were initially revoked in April after Minerals Commission inspections identified what the government described as sustained breaches of Ghana’s mining laws. The findings included the unauthorised assignment of mineral rights, mining outside approved areas and the absence of required environmental and forestry approvals.
The subsequent review committee upheld those findings after considering Adamus’ petition.
The case also comes as Ghana is taking a tougher approach to the economic returns from mining. The government has been restructuring the fiscal regime for minerals while seeking a larger share of revenue from high gold prices. Ghana’s record 2025 gold production was achieved despite large-scale output remaining broadly flat, with new and expanding mines helping offset declining output at some older operations.
The Adamus decision sends two signals to investors. Ghana is prepared to enforce mining, environmental and financial obligations even where a producing asset is involved, while also seeking to keep productive operations running rather than allowing regulatory disputes to disrupt output.
The outcome will also offer a clearer indication of how firmly the government intends to enforce compliance and recover public revenues as gold becomes an important source of export earnings and fiscal receipts.
