…..Over multiple mining violations
The Government of Mali has launched investigations into a sister company of Ghana’s Adamus Resources over alleged breaches involving taxes, duties and mining regulations.
The formal probe targets Société des Mines de Kofi (MIKO-SA) and SEMICO-SA, both subsidiaries of Adamus Resources, after Malian authorities accused the company of multiple violations of the country’s mining and financial laws.
In a strongly worded notice dated April 24, 2026, and sighted by The Herald, Mali’s Minister of Mines, Amadou Keïta, warned that the company’s exploitation permit could be withdrawn if the alleged violations are not addressed within 90 days.
The notice, addressed to the Chief Executive Officer of MIKO-SA in Bamako and copied to the Ministry of Economy and Finance, underscored what officials described as the seriousness of the matter.
According to Mali’s Ministry of Mines, MIKO-SA and SEMICO-SA, both subsidiaries under the Adamus Resources Group, hold exploitation permits for the Kofi and Segala mining projects located in the Kéniéba Circle in western Mali.
Government officials said the concerns emerged during engagements with officials of the mining companies as part of routine oversight and monitoring activities within the mining sector.
Among the alleged breaches cited by the ministry is the suspension of mining operations for more than two years without informing or obtaining authorisation from the mining administration.
Authorities further accused the company of failing to pay taxes, duties and royalties owed to the Malian State in connection with its mining activities.
The ministry also raised concerns over alleged breaches of Mali’s foreign exchange regulations.
According to the formal notice, MIKO-SA is accused of opening an offshore account without authorisation and failing to repatriate foreign currency earnings into Mali, contrary to the provisions of Uniform Law No. 2016-007 of March 17, 2016, governing exchange control regulations.
The government maintains that the alleged offences violate Article 18 of Mali’s Mining Code established under Ordinance No. 99-032/P-RM of August 19, 1999.
The provision allows the State to withdraw or cancel mining titles where operations are suspended for more than two years without authorisation or where companies fail to meet tax and royalty obligations.
“The suspension of activities for more than two years without authorisation and the failure to fulfil tax obligations each constitute grounds for the withdrawal of the exploitation permit,” the notice stated.
The ministry stressed that each alleged breach independently constituted sufficient grounds for the withdrawal of the company’s mining rights.
Minister Keïta therefore directed MIKO-SA to regularise the situation within 90 days or face the possible cancellation of its exploitation permit.
“Failing this, the State reserves the right to proceed with the outright withdrawal of your permit,” portions of the notice warned.
