A subsidiary of Ghana-based Adamus Resources Limited is facing possible licence revocation in Mali after authorities accused the company of multiple regulatory and financial breaches, including alleged tax evasion and violations of foreign exchange laws.
Nguvu Mining Group has been given a 90-day ultimatum by Mali’s Ministry of Mines to rectify the infractions or risk the outright withdrawal of its mining permits.
In an official letter dated 24 April 2026 and issued from Bamako, Mali’s Minister of Mines, Amadou Keita, informed the company’s chief executive that investigations into the operations of its subsidiaries had uncovered serious breaches of the country’s mining regulations.
The ministry said the findings emerged after regulatory meetings involving two Nguvu subsidiaries — SEMICO-SA and MIKO-SA — which hold exploitation permits for the Segala and Kofi mining concessions in the Kéniéba Circle in western Mali.
According to the ministry, the majority of the violations were linked to MIKO-SA.
The alleged breaches include the unauthorised suspension of mining operations for more than two years without notifying or securing approval from mining authorities.
The company was also accused of failing to pay taxes, royalties and other statutory obligations owed to the Malian state.
In addition, authorities alleged that MIKO-SA opened an unauthorised offshore bank account and failed to repatriate foreign currency earnings, contrary to regional foreign exchange regulations under Uniform Law No. 2016-007 of 17 March 2016.
The Ministry of Mines said the actions violated Article 18 of Mali’s Mining Code established under Ordinance No. 99-032/P-RM of 19 August 1999.
Under the law, the government may withdraw mining licences without compensation if operators fail to comply with official notices within a 90-day period.
“In light of the foregoing, I request that you remedy these breaches within a period of ninety days. Failing this, the State reserves the right to proceed with the outright withdrawal of your permit,” the minister stated in the letter.
Nguvu Mining Group operates across several West African countries and is linked to Adamus Resources Limited, which runs the Nzema Gold Project in Ghana’s Western Region.
The case is expected to attract attention within the regional mining sector because of Adamus Resources’ presence in Ghana and the increasing scrutiny of foreign mining operators in West Africa.
The alleged infractions occurred within the Kéniéba Circle, one of Mali’s most important gold-producing regions near the Senegalese border.
The area hosts several major gold deposits and remains central to Mali’s economy, with gold exports representing the country’s largest source of foreign exchange earnings.
In recent years, Mali’s transitional government has intensified oversight of foreign mining companies as part of efforts to increase state revenues from the extractive sector.
Authorities have also tightened enforcement of mining and foreign exchange laws, particularly under ongoing reforms linked to the country’s evolving mining code framework.
Industry observers say the sanctions against Nguvu Mining reflect Mali’s increasingly hardline approach towards companies accused of breaching operational and financial regulations.
Source:www.kumasimail.com
