Ghana’s Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah
Source: Africa Publicity
The Government of Ghana and Goldfields Ghana Limited have reached an agreement on a transitional plan for the Damang Mine.
A statement issued by the communications unit of the Ghanaian Presidency and signed by Felix Kwakye Ofosu, the Spokesperson to President John Dramani Mahama, said “the operational modalities of the transition involve issuing a new 12-month mining lease to Goldfields’ subsidiary, Abosso Goldfields Limited, pending parliamentary ratification in May 2025.”
According to the statement, under the new arrangement, Goldfields will resume open-pit mining during the transition period, safeguarding jobs and conducting feasibility studies to establish Damang’s reserves and mine life.
Recently, the Government of Ghana through its Ministry of Lands and Natural Resources, took a decisive step to assume operational control of the Damang Mine of Abosso Gold Fields Limited (AGL) upon the expiration of the thirty-year lease due on 18 April 2025.
This follows the unsuccessful renewal application by AGL, a subsidiary of Gold Fields Limited, which had halted active mining in 2023. AGL shifted to stockpile processing in 2024, indicating plans to continue this into 2025, with the remaining Life of Mine estimated by AGL at one year.
The Damang Mine’s return to state oversight marks a critical step in Ghana’s economic reset, ensuring its gold reserves directly benefit citizens and fuel long-term prosperity, the Ministry of Lands and Natural Resources said in a recent press statement, adding that “This decision aligns with Government’s policy shift away from the neo-colonial posturing of automatic renewals of licenses for mining in Ghana, focusing instead on a thorough reassessment of mining licenses to ensure optimal national benefit.”
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