Gold Fields has 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.
“As part of the commitment to sustain ongoing operations at Damang, mining activities were successfully restarted in May 2025. Gold Fields has continued to invest in the mine, including by completing and providing to the Government of Ghana a detailed feasibility study in December 2025, setting Damang up for an extended life of mine”, a statement released by the company said.
Over the past year, Gold Fields has worked closely with the Government of Ghana and the Government Transition Team to prepare the mine for transfer of ownership. The shared focus of both Gold Fields and the Transition Team throughout this process has been to ensure that Damang is well-positioned for continued sustainable operations following the transition, supporting ongoing employment, host community development, and broader economic contributions in Ghana.
Gold Fields has operated in Ghana for over three decades and has made a significant contribution to the country’s economy through employment, local procurement, tax and royalty payments, and sustained investment in host communities.
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 with Government. Decisions regarding the future ownership of the mine rest solely with the Government of Ghana.
Gold Fields is committed to playing our role in supporting the transition of the Damang mine, as part of our broader commitment to long-term, sustainable operations in Ghana, a cornerstone jurisdiction in its portfolio.
Gold Fields is proud of its more than three-decade history of working with our stakeholders in Ghana. Since 2000, we have 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.
Gold Fields said it remains fully committed to supporting its employees, contractors, and host communities throughout the transition period. The Company is focused on ensuring continuity and responsible management of the operations during this process. Gold Fields supports the objective of ensuring continuity of operations and is working to facilitate a stable and well-managed transition.
“Our operations in Ghana currently employ more than 7,000 people, 99% of whom are Ghanaian. We have invested in building the skills, knowledge and leadership of our local teams and have prioritised procurement from Ghanaian businesses. We have invested over US$100 million in health, education, infrastructure and other projects, which are delivering real and ongoing positive benefits for our host communities”, the statement said.
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. We reiterate the importance of Ghana to Gold Fields, and look forward to continuing our long-standing presence and impact in the country for many years to come”.
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Source: www.myjoyonline.com
