The Government of Ghana has struck a transitional agreement with Gold Fields Ghana Limited to sustain operations at the Damang Mine, securing thousands of jobs and laying the foundation for eventual Ghanaian ownership of the asset.
The move follows the expiration of Gold Fields’ 30-year mining lease on April 18. Under the new arrangement, Abosso Goldfields Limited, a subsidiary of Gold Fields, will operate the mine for another 12 months as both parties work towards parliamentary ratification in May 2025.
According to a statement from Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, the transitional lease allows the company to resume open-pit mining and process existing stockpiles. Operations during this period will be overseen by a joint management team comprising representatives from the government and Gold Fields.
“This arrangement ensures business continuity, protects employment, and sets the stage for feasibility studies to determine Damang’s long-term prospects,” the statement read.
The government emphasized that the partnership aligns with its broader objective to eventually transfer ownership of a viable mine to Ghanaian hands. Discussions will also advance on the pending renewal of the Tarkwa Mine lease, due in 2027.
Both sides reaffirmed their commitment to enhancing Ghana’s reputation as a competitive and attractive mining investment destination.
