Gov’t, Gold Fields reach transition deal on Damang mine

The government has reached an agreement with Goldfields Ghana Limited. This plan is for the Damang Mine's transition.

Felix Kwakye Ofosu, the Minister of Government Communications, signed a statement. It explains that a new 12-month mining lease will be issued. This lease is for Goldfields’ subsidiary, Abosso Goldfields Limited. It awaits parliamentary ratification in May 2025.

Goldfields will resume open-pit mining during this transition period. This move aims to protect jobs and conduct feasibility studies. These studies will assess Damang's reserves and mine life.

Processing of existing stockpiles will continue as well. A joint management team will oversee this process. The team includes representatives from both the Government of Ghana and Goldfields.