Gold Fields provides update on Damang transition, reaffirms commitment to Ghana
Gold Fields confirmed that preparations for the transition of the Damang mine to the Government of Ghana are progressing well, in line with the arrangements agreed and publicly announced on 22 April 2025. The agreement included the grant of a 12-month mining lease extension to Gold Fields to support the safe and orderly transition of the mine and transfer of ownership to the Government of Ghana, which is scheduled to take place on 18 April 2026. Mining activities were successfully restarted in May 2025.
Gold Fields has worked closely with the Government of Ghana and the Government Transition Team to prepare the mine for transfer of ownership. Gold Fields completed and provided to the Government of Ghana a detailed feasibility study in December 2025, setting Damang up for an extended life of mine. Since 2000, Gold Fields has invested capital of approximately US$5.0 billion in the Damang and Tarkwa mines, and contributed US$2.9 billion to the Ghana fiscus in taxes, royalties and dividends.
Mike Fraser, CEO of Gold Fields, said: "Gold Fields has had the privilege of operating in Ghana for more than 30 years and we are proud of the partnerships that we have built with the Government of Ghana and our host communities over that time. We remain committed to contributing to Ghana's mining sector and to maintaining solid relationships with our stakeholders." The final step in the transition process is the transfer of ownership of the Damang mine to the Government of Ghana.
Quick Summary
Gold Fields and the Government of Ghana are working together to transition the Damang mine. The company reaffirms its commitment to Ghana, but what does this mean for the future of the mine?
Summary - read the full story for complete context.

Image: MyJoyOnline
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from MyJoyOnline
Related Stories
More from Business & Economy

Lands and Mines Watch Ghana commends Armah-Kofi Buah for transparent Damang Mine Lease Transition
Lands and Mines Watch Ghana praises the Damang Mine lease transition - but what makes this process so special?
14h ago•










