Tarkwa (W/R), March 26, – Gold Fields has indicated that preparations for the handover of the Damang Mine to the Government of Ghana are progressing smoothly, in line with previously agreed arrangements.
The transition follows an agreement announced on April 22, 2025, which granted the company a 12-month extension of its mining lease to facilitate a safe and orderly transfer of ownership. The handover is scheduled for April 18, 2026.
Gold Fields said mining operations at Damang resumed in May 2025 as part of efforts to sustain production during the transition period.
Since then, the company has continued to invest in the mine, including completing a detailed feasibility study in December 2025 to support an extended life of the asset under future ownership.
This was contained in a press statement issued by the company on March 25, 2026.
According to the statement, Gold Fields has over the past year worked closely with the Government of Ghana and the Government Transition Team to ensure a seamless transfer process.
The company said its priority was to ensure that the mine remained operational after the handover, supporting employment, host community development, and the broader economy.
“The final step in the transition process is the transfer of ownership of the Damang Mine to the Government of Ghana, in line with Ghana’s mining laws and the terms of the agreement reached,” the statement said.
It emphasised that decisions regarding the future ownership structure of the mine would rest solely with the Government of Ghana.
Gold Fields reaffirmed its commitment to supporting the transition as part of its broader strategy of maintaining sustainable operations in Ghana, which it described as a key jurisdiction in its global portfolio.
Mr Mike Fraser, Chief Executive Officer of Gold Fields, said the company valued its long-standing presence in Ghana.
“Gold Fields has had the privilege of operating in Ghana for more than 30 years, and we are proud of the partnerships we have built with the Government and our host communities,” he said.
“We remain committed to contributing to Ghana’s mining sector and sustaining strong stakeholder relationships,” he added.
Since 2000, Gold Fields has invested approximately US$5.0 billion in its Damang and Tarkwa operations, contributing about US$2.9 billion to the state through taxes, royalties, and dividends.
The company has also invested more than US$100 million in community development projects, including health, education, and infrastructure initiatives.
Gold Fields currently employs over 7,000 people in Ghana, with 99 per cent of its workforce made up of Ghanaians.
GHBUSS
March 26, 2026
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