Tarkwa (W/R), March 26, – Preparations towards the transfer of the Damang Mine to the Government of Ghana are advancing steadily, Gold Fields has announced.
The company said the transition arrangements, first announced on April 22, 2025, included a 12-month extension of the mining lease to enable a structured and safe handover process. The transfer of ownership is expected to be completed on April 18, 2026.
According to the company, mining operations at Damang resumed in May 2025 to maintain production and operational stability during the transition period. It said further investments had been made, including the completion of a comprehensive feasibility study submitted to the Government in December 2025 to support the mine’s long-term viability.
The update was contained in a press statement issued on March 25, 2026.
Gold Fields said it had worked closely with the Government of Ghana and the Government Transition Team over the past year to ensure a smooth transfer, with emphasis on protecting jobs, supporting local communities, and sustaining the mine’s contribution to the national economy.
The company noted that the final decision on the mine’s future ownership structure would be taken by the Government of Ghana, in accordance with mining laws and the terms agreed under the transition arrangement.
Mr Mike Fraser, Chief Executive Officer of Gold Fields, said the company was proud of its long operational history in Ghana and the partnerships developed with the Government and host communities over the past three decades.
He reaffirmed the company’s commitment to Ghana, describing the country as a key part of Gold Fields’ global operations, and expressed optimism about maintaining its presence and contribution to the mining sector.
Gold Fields indicated that since 2000, it had invested about US$5 billion in the Damang and Tarkwa mines and paid about US$2.9 billion to the state in the form of taxes, royalties, and dividends.
The company also reported that more than US$100 million had been invested in social intervention projects, including health, education, and infrastructure in host communities, while its Ghana operations currently employ over 7,000 people, the majority of whom are Ghanaians.
GHBUSS
26 March 2026
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