Accra, April 23, 2025 — The Government of Ghana and Goldfields Ghana Limited have reached an amicable agreement on a transitional plan for the Damang Mine, marking a significant step toward maintaining operations and exploring local ownership opportunities.
According to a statement from the Presidency Communications, the agreement involves issuing a new 12-month mining lease to Abosso Goldfields Limited, a subsidiary of Goldfields. The arrangement, which is pending parliamentary ratification in May 2025, will allow for the resumption of open-pit mining operations during the transition period.
The statement, signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, noted that the new lease will safeguard jobs and enable feasibility studies to determine the mine’s reserves and life expectancy.
In addition to resuming mining, the processing of existing stockpiles will continue under the oversight of a joint management team made up of representatives from both the Government of Ghana and Goldfields. The two parties are committed to working in good faith toward a successful transition and eventual transfer of the mine into Ghanaian ownership.
The government and Goldfields have also agreed to continue discussions regarding the renewal of the Tarkwa Mine lease, which is set to expire in 2027. Both sides reaffirmed their dedication to enhancing Ghana’s appeal as a favorable investment destination in the mining sector.
This move follows growing calls from stakeholders, including MP for Mpraeso Davis Ansah Opoku, for greater local ownership and participation in Ghana’s natural resource management.
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