Lands Ministry Expresses Concern Over Developments Involving Adamus Resources Limited

The Ministry of Lands and Natural Resources has issued a statement expressing grave concern over recent developments affecting the operations of Adamus Resources Limited. The Ministry, representing the Government’s interests as a shareholder and key stakeholder in the Company indicated that it is closely monitoring the situation involving the Company and other parties.

The Ministry noted several recent media publications related to the ongoing case of Adamus Resources Limited and Nguvu Mining Ltd. v. Allan Morrison and Adamus Resources (Pty) Limited (Suit No. CM/OCC/0279/2023). These publications have included various allegations from the involved parties, prompting the Ministry to issue clarifications.

The Ministry unequivocally stated that neither the Ministry nor the Government is a party to the aforementioned legal proceedings currently before the High Court in Accra. This clarification is essential to dispel any misconceptions about the Government’s involvement in the case.

“The ruling, a copy of which was attached to the letter, restrained certain officers of the Company from holding themselves as Directors and/or Secretary of the Company.

“The Court then made an order constituting a five-member interim Management Committee (IMC) to manage the affairs of the Company. Each party was to provide two representatives, and the Ministry was to appoint one person.”

Ministry of Lands and Natural Resources

In compliance with the Court’s ruling, the Ministry nominated its representative and communicated this to the Registrar of the Court by a letter dated October 5, 2023. Subsequently, the Ministry’s representative called for a meeting of the IMC on November 21, 2023.

Upon receiving the meeting notice, the Company’s lawyers informed the Ministry of several developments post the Court’s orders of July 27, 2023. These included the filing of a Notice of Appeal against the High Court’s decision, an application for a stay of execution of the Court’s orders (which was yet to be heard), the applicants’ failure to draw up the Court’s orders, and confusion regarding the Court’s directives.

Considering these developments and to uphold the integrity of the judicial process, the Ministry, through a letter dated November 27, 2023, withdrew its representative’s appointment to the IMC. Since this withdrawal, the Ministry has not been informed about the constitution of the IMC or any other similar body. Furthermore, the Ministry has not received updates on the Appeal and the Application for Stay.

Current Status and Future Actions

To clarify its stance, the Ministry stated it is unaware of any existing IMC and will not recognize any such body unless explicitly directed by a competent court.

“As of the date of this press release, records from the Minerals Commission indicate that Nguvu Mining holds 90% of the shares in Adamus Resources Limited, with the Government holding the remaining 10%.

‘This share distribution remains unchanged unless a competent court decides otherwise.”

Ministry of Lands and Natural Resources

The Ministry expressed its trust in the country’s judicial system to resolve all matters at issue. Additionally, the Ministry is committed to engaging the involved parties to seek an amicable resolution to the dispute.

Meanwhile, the Ministry urged all parties to avoid discussing the case in the media or taking actions that could influence the Court’s impartial adjudication.

Moreover, the Ministry advised against any actions that could disrupt the smooth operations of the Company while awaiting the Court’s decisions.

The Ministry of Lands and Natural Resources reiterated its commitment to ensuring that the legal processes are respected and that the interests of all stakeholders, including the Government, are protected. The Ministry remained hopeful for a resolution that supports the continued and effective operation of Adamus Resources Limited.

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