{"id":1572,"date":"2026-08-24T22:24:03","date_gmt":"2026-08-24T22:24:03","guid":{"rendered":"https:\/\/africanewsradio.com\/?p=1572"},"modified":"2026-08-24T22:24:05","modified_gmt":"2026-08-24T22:24:05","slug":"adamus-takeover-how-jinapor-gave-angela-lists-contested-deal-official-cover","status":"publish","type":"post","link":"https:\/\/africanewsradio.com\/index.php\/adamus-takeover-how-jinapor-gave-angela-lists-contested-deal-official-cover\/","title":{"rendered":"Adamus Takeover: How Jinapor Gave Angela List\u2019s Contested Deal Official Cover"},"content":{"rendered":"\n
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For years, allegations have swirled that the Akufo-Addo administration facilitated the controversial takeover of Adamus Resources Limited by businesswoman Angela Diala List. Now, documents and correspondence obtained by The New Republic reveal in granular detail the specific role played by former Lands and Natural Resources Minister Samuel Abu Jinapor\u2014a role that effectively greased the wheels for a corporate capture that the majority shareholder insists was outright theft.<\/p>\n\n\n\n

At the centre of this corporate war is a simple but damning question: why did a minister of state formally recognise a change of control over a multimillion-dollar mining asset when the lawful owner had formally notified his ministry that the transaction was fraudulent?<\/p>\n\n\n\n

The plot has its roots in a hostile takeover executed with surgical precision. In 2017, Adamus Resources Pty Ltd (Adamus Australia) acquired a 90 percent controlling interest in Adamus Resources Limited (Adamus Ghana), with the Government of Ghana retaining the remaining 10 percent as its statutory free carried interest.<\/p>\n\n\n\n

For several years, this ownership structure remained stable until 2021, when Angela List and lawyer Kwaku Sarpong Odame signed extracts of purported shareholders’ meetings allegedly held on 11 February and 17 June 2021. Those resolutions were used to appoint Dr Anthony Aubynn and Joseph Owusu Ansah as directors of Adamus Ghana.<\/p>\n\n\n\n

Adamus Australia insists it received no notice of either meeting and was neither present nor represented, despite being the owner of 90 percent of the company. Questions also remain over whether the Government of Ghana, as the holder of the remaining 10 percent shareholding, validly participated in or authorised those resolutions. The meeting extracts were reportedly signed only by Angela List and Kwaku Sarpong Odame as chairperson and secretary respectively.<\/p>\n\n\n\n

Although the Ministry of Lands and Natural Resources was reportedly notified of the purported extraordinary general meeting of 17 June 2021, it did not attend. Adamus Australia argues that even if the ministry had been notified, that would not cure the more fundamental issue of the majority shareholder allegedly receiving no notice whatsoever.<\/p>\n\n\n\n

The Australian Judgment That Exposed the Fraud<\/p>\n\n\n\n

The dispute later shifted to Australia. In 2022, Angela List allegedly sought to remove Allan Morrison as director and secretary of Adamus Australia while appointing Kevin Woodthorpe and Peter Michael as replacement directors. The objective was to secure corporate approval for actions Morrison had consistently opposed.<\/p>\n\n\n\n

However, the Supreme Court of Western Australia subsequently declared the relevant actions unlawful. The court found that Angela List had no authority to sign the resolution removing Allan Morrison as a director of Adamus Australia. Woodthorpe and Michael subsequently abandoned the arrangement and resigned.<\/p>\n\n\n\n

That judgment became significant because it cast doubt on whether anyone other than Morrison had legal authority to act on behalf of Adamus Australia.<\/p>\n\n\n\n

Notwithstanding the pending Australian litigation, a further development occurred on 7 November 2022 just one week before judgment was due in the Australian case. Moses Kobina Bosompim allegedly purported to act on behalf of Adamus Australia and transferred its entire 79,650 shares in Adamus Ghana to Nguvu Mining Limited, a newly incorporated Mauritian company alleged to have been established for, or controlled by, Angela List.<\/p>\n\n\n\n

On the same day, Angela List wrote to the Ministry of Lands and Natural Resources notifying it of what she described as a “change of control” from Adamus Australia to Nguvu Mining.<\/p>\n\n\n\n

Adamus Australia disputes that transaction entirely, insisting that Bosompim had no authority to act on its behalf and that no lawful approval had ever been given for the sale of its controlling interest.<\/p>\n\n\n\n

Jinapor’s Decisive Intervention<\/p>\n\n\n\n

Despite the ongoing disputes\u2014and despite Adamus Australia’s earlier objections having been brought to the attention of his ministry\u2014Samuel Abu Jinapor proceeded to recognise the transaction.<\/p>\n\n\n\n

On 23 December 2022, the Minerals Commission acted on a letter signed by Jinapor as Minister for Lands and Natural Resources and formally recognised the change of control from Adamus Australia to Nguvu Mining.<\/p>\n\n\n\n

According to Adamus Australia, this recognition occurred without any consultation with the company’s lawful owners and without independently verifying whether the purported transfer had been authorised. The approval reportedly relied, at least in part, on a board resolution signed by Angela List, Joseph Owusu Ansah, Dr Anthony Aubynn and Rebecca Christabel Donkor, a government-appointed director on the board of Adamus Ghana.<\/p>\n\n\n\n

By recognising the new ownership structure, Jinapor effectively legitimised the disputed board changes and the contested transfer of the company’s controlling stake, notwithstanding the unresolved legal disputes surrounding both.<\/p>\n\n\n\n

Unanswered Questions<\/p>\n\n\n\n

The circumstances surrounding the ministerial recognition continue to raise important questions:<\/p>\n\n\n\n

\u00b7 Given that the Ministry had allegedly been informed beforehand that Adamus Australia disputed both the board appointments and any purported transfer of its shares, what due diligence was undertaken before the change of control was approved?
\u00b7 Why did the Ministry not consult Adamus Australia, the lawful majority shareholder, before recognising a transaction that transferred its 90 percent stake?
\u00b7 Why was a ministerial letter issued just weeks after the Supreme Court of Western Australia had ruled that List had no authority to act on behalf of Adamus Australia?<\/p>\n\n\n\n

Former Minister Samuel Abu Jinapor may therefore have to explain what independent verification, if any, his ministry conducted before recognising a transaction that the majority shareholder consistently maintained was unauthorised and unlawful.<\/p>\n\n\n\n

The stakes are considerable. Adamus Resources’ mining leases covering the Akango, Salman and Nkroful concessions were revoked on April 26, 2026, over reported violations of mining law. The Minerals Commission has since taken administrative control of the mine. But the underlying question of how a hostile takeover was allowed to proceed with the apparent blessing of a government minister remains unresolved and demands an answer.<\/p>\n","protected":false},"excerpt":{"rendered":"

For years, allegations have swirled that the Akufo-Addo administration facilitated the controversial takeover of Adamus Resources Limited by businesswoman Angela Diala List. Now, documents and correspondence obtained by The New Republic reveal in granular detail the specific role played by former Lands and Natural Resources Minister Samuel Abu Jinapor<\/p>\n","protected":false},"author":2,"featured_media":1573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[1241,1240,1242],"_links":{"self":[{"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/posts\/1572"}],"collection":[{"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/comments?post=1572"}],"version-history":[{"count":1,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/posts\/1572\/revisions"}],"predecessor-version":[{"id":1574,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/posts\/1572\/revisions\/1574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/media\/1573"}],"wp:attachment":[{"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/media?parent=1572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/categories?post=1572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/africanewsradio.com\/index.php\/wp-json\/wp\/v2\/tags?post=1572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}