By 
(Ecofin Agency) – Gold Fields operated Damang as its second gold mine in Ghana, but its permit will expire on April 18 after the government declined to renew it.
The Ministry of Lands and Natural Resources said on April 16 that Ghana now controls the Damang gold mine, which Gold Fields previously operated. Gold Fields’ mining lease ends on April 18, and the government denied the company’s renewal application. The state’s move to reclaim the mine marks a shift from automatic license renewals.
By returning the Damang mine to state management, the government aimed to ensure continuous operations and safeguard employment for nearly 2,000 people. The takeover also means Ghana regains direct access to a gold mine that contributed 135,000 ounces—roughly 6%—to Gold Fields’ 2024 production.
The Damang mine is nearing its operational finish, with Gold Fields predicting a drop in production to 85,000 ounces next year. The uncertainty over the site’s fate persists, and shutting down the mine remains on the table. Authorities have yet to disclose their plans for managing the mine after the gold is exhausted.
This article was initially published in French by Aurel Sèdjro Houenou
Edited in English by Jason Ange Quenum
Comments