The Government of Ghana and Goldfields Ghana Limited have successfully negotiated a transitional arrangement for the Damang Mine, ensuring ongoing operations while facilitating future Ghanaian ownership.
In a statement released by Government Communications Minister Felix Kwakye Ofosu, it was announced that a 12-month mining lease will be granted to Goldfields’ subsidiary, Abosso Goldfields Limited, pending parliamentary ratification in May 2025. This lease will enable the resumption of open-pit mining at the Damang Mine, safeguarding existing jobs and supporting further feasibility studies to assess the mine’s remaining reserves and long-term viability.
During this transitional phase, stockpile processing will continue under the joint management of a team comprising representatives from both the Government of Ghana and Goldfields. This collaborative effort aims to maintain operational transparency and ensure an efficient management of the transition.
Both the government and Goldfields have expressed their commitment to working in good faith throughout this period and beyond, with the shared objective of successfully transferring a viable mine to Ghanaian ownership.
Additionally, discussions will commence regarding the renewal of the mining lease for the Tarkwa Mine, set to expire in 2027. This initiative is part of a broader strategy to enhance Ghana’s position as a competitive and appealing destination for mining investment.
About The Author
