Gold Fields Commits to Damang Mine Revival Under New Agreement
Gold Fields Limited says it will take all reasonable steps to restart open-pit mining at the Damang mine, following a new agreement with the Government of Ghana. The Minister of Lands and Natural Resources is expected to provide the necessary support in securing permits required to resume operations, marking a key turning point in the company’s future in the country.
The agreement paves the way for the Government to grant a new 12-month mining lease for the Damang mine, subject to parliamentary ratification when the House reconvenes on 16 May 2025. During this lease period, Gold Fields will safely recommence mining in accordance with its submitted programme, ensuring job security and expanding employment opportunities in the region.
In a statement, Gold Fields said it is committed to maintaining operations through the processing of surface stockpiles while preparing to relaunch full-scale open-pit mining. At the same time, the company will continue with infill exploration drilling and complete a bankable feasibility study by the end of 2025, aimed at extending the life of the mine.
The development follows months of negotiations between the company and the government and signals renewed cooperation, transparency, and commitment to sustainable mining.
As part of its long-term strategy, GoldFields and the Government will form a joint asset transition team to oversee a roadmap for eventual local ownership of the Damang mine. This aligns with Ghana’s broader goal to increase indigenous participation in the mining sector.
Welcoming the agreement, Ghana’s President, H.E. John Mahama, described the day as significant for the country’s mining industry. “Increased local participation and ownership in Ghana’s mining industry is a key part of Government’s commitment to creating wealth for Ghanaians,” he said.
Chairman of the Gold Fields Board, Yunus Suleman, reaffirmed the company’s commitment to Ghana, noting, “This agreement is an opportunity for Damang mine to continue creating value and making a sustainable economic contribution to the communities surrounding Damang, under future ownership of the people of Ghana.”
Meanwhile, operations at Gold Fields’ Tarkwa mine continue unaffected, with the company also set to begin preparations for lease extensions due in 2027.
