The Government of Ghana and Goldfields Ghana Limited have reached a significant agreement to implement a transitional plan for the Damang Mine, a move aimed at sustaining operations and jobs while preparing for a shift in ownership.
According to a statement from the Presidency, the agreement involves issuing a new 12-month mining lease to Goldfields’ subsidiary, Abosso Goldfields Limited, subject to parliamentary approval in May 2025.
Under the terms of the arrangement, Goldfields will resume open-pit mining activities at Damang during the transitional period. The company will also undertake feasibility studies to determine the remaining reserves and the future of the mine.
Meanwhile, the processing of existing stockpiles will continue, overseen by a joint management team consisting of officials from both the Government of Ghana and Goldfields. This cooperative effort aims to ensure a smooth transition and eventual handover of the mine to Ghanaian ownership.
In addition to the Damang agreement, both parties have committed to further discussions concerning the renewal of the Tarkwa mine lease, which is set to expire in 2027. They reaffirmed their dedication to promoting Ghana’s mining sector as an attractive destination for investment.
The statement was signed by Felix Kwakye Ofosu (MP), Spokesperson to the President and Minister for Government Communications.
This development signals a strong partnership between the state and private sector stakeholders in the mining industry and a strategic step toward increasing local participation in Ghana’s natural resource management.
Source: myinfotoday.com
