The Ghanaian government has announced plans to take over the Damang Mine after Gold Fields’ mining lease expires in April 2025. Apexnewsgh reports
According to Isaac Tandoh, Deputy Chief Executive Officer of the Minerals Commission, the country is ready to assume full control of the mine.
“We will run it,” Tandoh stated bluntly when asked about Ghana’s plans for the mine after Gold Fields’ departure. He emphasized that mining agreements cannot last indefinitely and that the government will support foreign investments but take over when agreements expire.
Tandoh dismissed concerns about Ghana’s capacity to manage the mine, highlighting that local expertise can immediately begin working on several unmined smaller pits within the Damang concession. “People have been talking about capacity and capital, but we have a lot of local capacity, including rock shovels, BCMs, engineers, and planners,” he said.
The Damang Mine, spread across 23,666 hectares, is located 30km north of Tarkwa in Southwest Ghana. Gold Fields Ghana Holdings Limited currently owns 71.1% of the mine, IAMGOLD owns 18.9%, and the Ghanaian government holds 10%.
Tandoh revealed that all discussions held so far point to a state-led operation of the Damang Mine after Gold Fields’ exit. “In all the meetings I have been in and all the discussions I have had, we are looking at the state running the mine. No individual will be made to do that,” he added.
With local technical know-how readily available, Ghana is poised to take control of the mine and develop its resources.
Source: Apexnewsgh.com
