'No more forever deals' - Minerals Commission defends Damang Mine takeover

The government is taking bold steps to indigenise its mineral wealth. This will ensure that Ghanaians truly benefit from their resources.

Isaac Andrews Tandoh, Deputy CEO of the Minerals Commission, shared this message. He spoke during an interview on Joy News’ PM Express Business Edition on April 17.

His comments followed the government's decision not to renew Gold Fields' mining lease at Damang. The South African firm has operated the mine for decades. This rejection means Ghana will now take operational control of the gold-rich site.

Andrews Tandoh stated, “There hasn’t been a policy for nationalisation.” He emphasized, “We are not Burkina Faso or Mali. But we are pushing for indigenisation.”

He clarified that this effort is not about removing foreign investors. “We support foreign investment,” he said. However, he believes some agreements should not last forever.

The Minerals Commission aims to see real value for Ghana. “If you’ve had a lease for 30 years, it cannot be business as usual,” he explained. He criticized "neo-colonial types of agreements" that continue without change.

Tandoh stressed that this move is not political. “This is about Ghana,” he said. It focuses on ensuring infrastructure and communities benefit from local resources.

Ghana has relied on foreign companies for major mining operations in the past. However, Andrews Tandoh noted that things are changing now.

“We’re not saying don’t come,” he stated. “We’re saying let’s do fair business.” He urged a review of agreements made 30 years ago since times have changed.

He hinted that other leases might also face similar scrutiny if they don't align with Ghana's interests. “We are evaluating everything,” he said, emphasizing protection for Ghana’s future.

Tandoh dismissed concerns that the Damang decision would deter investors. “Genuine investors are not afraid of fairness,” he explained. They fear instability instead.

He assured that the Commission is working closely with the Lands Ministry for transparency and smooth transitions. “This is not abrupt; it is deliberate and strategic,” he concluded, adding it is all for Ghanaians.