Engineers and Planners: Approval for acquisition of Damang Mine was granted by government in 2024
Engineers and Planners Company Limited (E&P) received approval for acquisition of Damang Mine in 2024 from the government. A "no-objection" letter issued by the Ministry of Lands and Natural Resources on March 12, 2024, formally conveyed the Ministry's position that it had no objection to the Ghanaian mining firm entering into negotiations with Gold Fields Limited for the purpose of acquiring shares in the Damang Mine. The letter followed an application by E&P dated March 8, 2024, submitted pursuant to Section 100(2) of the Minerals and Mining Act, 2006 (Act 703).
The letter, signed by Chief Director Professor Patrick K. Agbesinyale, stressed that the Government of Ghana retained full authority to approve or reject any eventual transaction. The Ministry indicated that its position was informed by advice from the Minerals Commission, which noted E&P's considerable experience in mining and its existing role as a contractor at the Damang Mine. Gold Fields had asked E&P to secure ministerial backing after the Ghanaian firm formally expressed interest in taking over the mine. E&P had begun positioning itself to take over the Damang asset as far back as 2022, and in a letter dated September 4, 2023, Gold Fields instructed E&P to begin withdrawing its equipment from the site.
Gold Fields indicated that mining of the Huni and LKG pits would be completed by December 2023, after which the company would shift to processing existing stockpiles until the mine's life ended in 2025. In a letter dated September 25, 2023, E&P wrote to the Chief Executive Officer
Quick Summary
Engineers and Planners' attempted acquisition of the Damang Mine involves a "no-objection" letter issued by the Ministry of Lands and Natural Resources. The letter set in motion a chain of events stretching back several years-challenging claims that the process is recent or politically influenced.
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