Damang Mine: Lands Ministry commits to competitive bidding to select credible investor
The government says it has put in place measures to safeguard jobs, maintain service contracts and reassure stakeholders after Gold Fields Ghana hands over the Damang Mine on April 18, this year, to ensure continuity after the lease expires.
The government expressed its firm belief that the Damang Mine remained a key national asset that could continue contributing significantly to the country’s gold production, export earnings and employment.
Although the measures were not mentioned in a statement released yesterday by the Ministry of Lands and Natural Resources, it said the steps formed part of efforts to ensure the mine's continued contribution to national development and the advancement of the long-term Ghanaian-centred ownership and investment.
The statement, signed by the sector minister, Emmanuel Armah-Kofi Buah, said the government would operate through a competitive bidding process to secure a credible investor.
As Government advances this transition, it remains committed to ensuring that the Damang Mine continues to deliver lasting value for the host communities and the nation at large.
“The ministry reiterates its dedication to transparency and responsible stewardship throughout this process and look forward to ushering in a new chapter for the Mine,” the statement said.
It stressed that the new chapter would be one that strengthened Ghana's mining sector and reinforced the government's broader vision for a sustainable Ghanaian-driven growth.
The new deal would also preserve the country's strong reputation as a leading destination for responsible foreign investment.
Background
The Damang Mining Lease in the Western Region is held by Abosso Goldfields Limited, a subsidiary of Gold Fields Ghana Limited.
The 30-year mining lease for Damang expired in 2025 but was granted a one-year extension which now expires on April 18, this year.
Gold Fields is one of the largest private sector companies in the country, controlling 90 per cent of both the Tarkwa and Damang gold mines.
The government owns the remaining 10 per cent through a free-carry interest.
Gold Fields took over the Tarkwa mine from the State Gold Mining Company in 1993 and acquired Damang mine in 2002.
Over its operational lifetime, the Damang Mine has produced more than four million ounces of gold, making it a significant contributor to Ghana’s mineral output.
