In a collaborative effort, the Government of Ghana and Goldfields Ghana Limited have come to a harmonious agreement regarding a transitional arrangement for the Damang Mine.
Felix Kwakye Ofosu, the Spokesperson to the President and Minister of Government Communications, disclosed in a statement released today, Wednesday, April 23, 2025, that the transition plan includes the provision of a new 12-month mining lease to Goldfields’ subsidiary, Abosso Goldfields Limited. This newly formed agreement is pending parliamentary approval set for May 2025.
During this transition phase, Goldfields is set to recommence open-pit mining operations to ensure job security while also undertaking feasibility studies to evaluate Damang’s reserves and potential mine lifespan.
Additionally, the processing of existing ore stockpiles will persist under the supervision of a joint management team comprising delegates from both the Ghanaian government and Goldfields.
Committing to a spirit of cooperation, both entities have pledged to collaboratively ensure a smooth transition and eventual transfer of a sustainable mine under local ownership in Ghana.
The Minister of Government Communications emphasized that fruitful discussions are set to take place regarding the lease renewal for the Tarkwa mine, scheduled for 2027, illustrating a shared commitment to bolstering Ghana’s standing as an attractive investment hub in the mining industry.