Damang mine: Govt reaches 12-month transitional plan with Goldfields

The Government of Ghana and Gold Fields Ghana Limited have made an agreement. This is about the Damang Mine after its mining lease expired on April 18.

Gold Fields' subsidiary, Abosso Goldfields Limited, will continue operations. They will work under a new 12-month mining lease. This is pending parliamentary approval in May 2025.

Felix Kwakye Ofosu, the President's Spokesperson, announced this on April 23. He stated that Gold Fields will resume open-pit mining during this transition. This plan aims to protect jobs and assess Damang's reserves and mine life.

Processing of existing stockpiles will also continue. A joint management team from both parties will supervise this process. They aim for a successful transition to Ghanaian ownership of the mine.

Both parties agreed to discuss the renewal of the Tarkwa mine lease, due in 2027. They pledged to work together to improve Ghana’s mining sector as an investment destination.

For more details, you can read the full statement from the government.