The Government of Mali has launched investigations into a sister company of Adamus Resources over alleged violations involving taxes, duties and mining regulations.
The formal probe targets Société des Mines de Kofi (MIKO-SA), a subsidiary of Adamus Resources, after Malian authorities accused the company of multiple breaches of the country’s mining and financial laws.
In a strongly worded notice dated April 24, 2026, Mali’s Minister of Mines, Amadou Keïta, warned that the company’s exploitation permit could be withdrawn if the alleged violations are not addressed within ninety days.
The notice, addressed to the Chief Executive Officer of MIKO-SA in Bamako and copied to the country’s Ministry of Economy and Finance, underscores 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 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 ministry stressed that each of the alleged breaches independently constitutes grounds for the withdrawal of the company’s exploitation permit.
Mr. Keïta therefore, directed MIKO-SA to regularise the situation within ninety days or face the possible cancellation of its mining rights.
“Failing this, the State reserves the right to proceed with the outright withdrawal of your permit,” portions of the notice stated.
A Daily Guide Report