Govt takes over operations of Damang mines

The government will take control of the Damang Mine. This follows the end of a 30-year lease on April 18, 2025.

Abosso Gold Fields Limited (AGL) applied to renew the lease but was unsuccessful. AGL, a subsidiary of Gold Fields Limited, stopped active mining in 2023. In 2024, they began processing stockpiles and plan to continue into 2025. AGL estimates one year remains in the mine's life.

The Ministry of Lands and Natural Resources issued a statement about this change. It said returning the mine to state oversight is crucial for Ghana’s economy. The goal is to ensure gold reserves benefit citizens directly.

Minister Emmanuel Armah-Kofi Buah signed the statement. He noted that this decision reflects a shift in government policy. The focus is now on reassessing mining licenses for better national benefits. The government seeks value propositions for using mineral resources effectively.