Nguvu Mining Risks License Withdrawal as Mali Uncovers Serious Breaches

Nguvu Mining Group, a subsidiary of Ghana-based Adamus Resources Limited, is facing major regulatory sanctions in Mali after the country’s Ministry of Mines cited the company for multiple operational and financial violations.

The ministry has issued a strict 90‑day ultimatum for the company to rectify the breaches or risk having its mining licenses revoked.

In an official letter dated April 24, 2026, Mali’s Minister of Mines, Amadou Keita, wrote to the Chief Executive Officer of Nguvu Mining Group outlining serious concerns identified during regulatory meetings involving the company’s subsidiaries, SEMICO-SA and MIKO-SA. The two entities hold exploitation permits for the Segala and Kofi concessions within the mineral-rich Kéniéba Circle.

Following the engagements, the ministry uncovered several critical infractions—primarily linked to MIKO-SA.

According to the minister, the company halted mining operations for more than two consecutive years without notifying or seeking approval from the mining administration, a clear violation of Mali’s mining regulations.

The ministry also accused the company of failing to pay taxes, duties, and royalties owed to the Malian state, operating an unauthorized offshore bank account, and failing to repatriate foreign currency earnings. These actions, authorities said, breach Uniform Law No. 2016‑007 of March 17, 2016, which governs regional foreign exchange regulations.

The Ministry of Mines further noted that the violations contravene Article 18 of Ordinance No. 99‑032/P‑RM of August 19, 1999, which established Mali’s Mining Code. Under the law, the state reserves the right to cancel or withdraw mining titles without compensation if a company fails to comply with a formal notice within 90 days.

“The State reserves the right to proceed with the outright withdrawal of your permit” should the violations remain uncorrected, Minister Keita warned in the letter.

The legal provisions specifically address unauthorized suspension of mining activities and failure to pay state royalties.

Nguvu Mining Group is a major mining infrastructure company with operations across West Africa, while its parent company, Adamus Resources Limited, operates the Nzema Gold Project in Ghana’s Western Region.

Industry analysts say the development could trigger heightened scrutiny from investors and mining regulators across the sub-region.

The violations occurred in the Kéniéba Circle in western Mali near the Senegalese border—an area regarded as the backbone of Mali’s gold mining industry due to its vast deposits.

In recent years, Mali’s transitional government has intensified audits of foreign mining companies as part of efforts to enforce stricter mining laws and secure greater state benefit from mineral resources. The enforcement of the 1999 Mining Code, alongside a transition toward an even stricter 2023 Mining Code in some sectors, signals a zero‑tolerance stance on foreign exchange non‑compliance and unapproved operational shutdowns.

Source: Ghana/otecfmghana.com/Francis Appiah