The Minerals Commission has turned down Gold Fields Limited’s application to extend its Damang Mining Lease by an additional 30 years.
According to reports the existing lease, which was granted in April 1995, is due to expire on April 18, 2025.
Mining operations at Damang commenced in August 1997, with Gold Fields Limited emerging as a key player in Ghana’s gold production.
The company owns both the Tarkwa and Damang mines, in which the Government of Ghana holds a 10% carried interest in each.
Meanwhile, Gold Fields Limited has announced plans to begin a phased shutdown of its Damang Mine following the government’s decision to reject the company’s application to extend
A statement by Gold Field on the Damang mining lease extension stated, “This means that starting today, and over the weekend, we will initiate a phased reduction in production and take steps toward ensuring a safe and orderly shutdown of current mining activities at Damang, pending resolution of the matter or further clarity on the way forward.
It is important to emphasise that this development does not affect operations at Tarkwa. We encourage all our people there to remain focused on maintaining safe and productive operations,” it stated.
“Our immediate priorities are to ensure the safety and security of our people, understand the implications of the government’s decision, including any future plans for the Damang mine, and explore how we can best mitigate any negative effects,” the statement added.
Some Ghanaians have reacted to the news questioning the person who signed the lease contract from 1995 to 202 saying, “ First of all, who’s the F00l who signed this contract in the first place??”
Another stated, “ From 1995 to 2025 which is 30 good years. Let’s ask ourselves what one prominent thing or remarkable object have they done for the Nation within these periods.
Not University, Hospital, Railways, Roads, Ultra modern Market nothing and U need another 30 years to exploit. Never”.
One user also stated, “10% interest? Well, well, well!… Good the Minerals Commission turned them down”.
Additionally, an X user also wrote, “Trust me even if Ghana owns 100% of the mine Ghanaian citizens will still not benefit anything from it, all the money will end up in our politicians pockets”.
See the post below:
The Minerals Commission has turned down Gold Fields Limited’s application to extend its Damang Mining Lease by an additional 30 years. The existing lease, which was granted in April 1995, is due to expire on April 18, 2025.
Mining operations at Damang commenced in August 1997,… pic.twitter.com/yuiEjdByHy
— EDHUB🌍ℹ (@eddie_wrt) April 14, 2025
