By Felix Cofie
The Government of Ghana and Goldfields Ghana Limited have reached an amicable agreement outlining a transitional arrangement for the Damang Mine, ensuring continued operations while paving the way for Ghanaian ownership in the long term.
A statement signed by Government Communications Minister Felix Kwakye Ofosu said
Under the terms of the new agreement, a 12-month mining lease will be issued to Goldfields’ subsidiary, Abosso Goldfields Limited, subject to parliamentary ratification in May 2025. This lease will allow for the resumption of open-pit mining operations at the Damang Mine, while protecting existing jobs and supporting further feasibility studies to determine the mine’s remaining reserves and future viability.
The statement said in the interim, stockpile processing will continue, managed jointly by a team comprising representatives from both the Government of Ghana and Goldfields. The joint team will oversee operational transparency and ensure that the transition period is efficiently managed.
The government and Goldfields have both reaffirmed their commitment to working in good faith during the transitional period and beyond, with the shared goal of ensuring the successful transfer of a viable mine to Ghanaian ownership.
Additionally, both parties have agreed to initiate discussions on the renewal of the mining lease for the Tarkwa Mine, which is set to expire in 2027. This forms part of a broader collaboration aimed at enhancing Ghana’s standing as a competitive and attractive mining investment destination.
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