Government of Ghana has granted Gold Fields Ghana Limited a temporary 12-month mining lease to continue activities at the Damang Mine, following the expiry of its 30-year concession on April 18.
This transitional arrangement, pending parliamentary ratification in May 2025, allows Abosso Goldfields Limited—a subsidiary of Gold Fields—to resume open-pit mining and maintain the processing of stockpiled ore. The agreement comes after negotiations between the government and the mining giant reached a mutually beneficial resolution.
According to a statement signed on April 23 by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, the interim lease is part of a broader strategy to ensure a smooth transition that protects livelihoods and maximizes the mine’s long-term value.
“A joint management team, comprising government officials and Gold Fields representatives, will oversee operations during this period,” the statement revealed. “The goal is to assess Damang’s reserves and potential mine life while securing a path toward eventual Ghanaian ownership.”
The deal also opens the door for further cooperation between the state and Gold Fields, with both parties agreeing to hold good-faith discussions on renewing the Tarkwa mine lease, which is set to expire in 2027.
This development signals a firm commitment by the government to maintain investor confidence while ensuring Ghana’s mineral wealth delivers lasting benefits to the country.
