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Business News of Thursday, 28 April 2011

Source: GNA

Government receives royalties from mining company

Accra, April 28, GNA - Adamus Resources Limited, one of the leading gold producers in the country, on Thursday presented a cheque for 886,820 US dollars (GH 1,329,820 cedis) to the government as its first royalty from its first quarter operations.

Adamus Resources Limited, listed on the Australian Securities Exchange and Frankfurt Stock Exchange Open Market, presented the cheque through the Domestic Tax Revenue Division of the Ghana Revenue Authority (GRA).

Presenting the cheque Mr Mike Ezan, Director, Government and Corporate Relations Manager of Adamus Resources Limited, said the company's operation was on course to produce 100,000 ounces of gold per year for the next 10 years.

Mr Ezan attributed Adamus successes to the company's commitment to a sustainable development in the area where they operate saying Education and technical skills development were key cornerstones of the company's corporate social responsibility with an agenda to maximise local employment.

Adamus Resource Limited primary focus was on developing and expanding the economic potential of the Nzema Gold Project in the country. According to Mr Ezan his company, which was commissioned on January 17, had invested over 380,103 dollars in education, water, public safety in the Ellembelle District in the Western Region. He said Adamus Resources Limited had also collaborated with the Australian High Commission to train over 160 youth to acquire basic skills in electrical, wielding, carpentry, masonry and mechanical skills so they could gain employment with companies in the Western Region.

"Adamus management view employment and skills training as a key element of sustainable economic development and we hope to leave a sustainable legacy for the people of Nzema," Mr Ezan added. Mr George Blankson, Commissioner General of GRA, welcomed the Adamus into the 93club of taxpayers" saying the gesture of the company indicated its voluntary compliance of paying taxes. Mr Blankson further called on corporate institutions to learn from the Adamus's example. He appealed to the company to ensure that it also paid corporate and other taxes.

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