By: Betty Lartey
Accra — Gold Fields has reaffirmed its commitment to Ghana and said preparations for the handover of the Damang gold mine to the Government of Ghana are progressing in line with the agreement announced on 22 April 2025.
Under that agreement, Gold Fields received a 12-month mining lease extension to allow for a safe and orderly transition, with ownership due to transfer to the government on 18 April 2026. The company said mining activities at Damang were successfully restarted in May 2025 and that it provided the government with a detailed feasibility study in December 2025 aimed at setting the mine up for an extended life of operations.
“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,” CEO Mike Fraser said. “We remain committed to contributing to Ghana’s mining sector and to maintaining solid relationships with our stakeholders.”
Gold Fields emphasized that the company has worked closely with the Government Transition Team over the past year to prepare Damang for transfer of ownership, with a shared focus on sustainable operations after the handover. The company said its priorities during the process include supporting ongoing employment, host community development and broader economic contributions in Ghana.
Gold Fields highlighted its long-term presence and investment in the country, saying it has invested approximately US$5.0 billion in the Damang and Tarkwa mines since 2000 and contributed about US$2.9 billion to the Ghanaian fiscus through taxes, royalties and dividends. The company also reported current Ghanaian employment of more than 7,000 people — 99% of its local workforce — and said it has invested over US$100 million in health, education, infrastructure and other community projects.
The company reiterated that the final decision on the mine’s future ownership rests solely with the Government of Ghana and said it will “play our role” in supporting a smooth transition. Gold Fields stated it remains focused on ensuring continuity and responsible management of operations and supporting employees, contractors and host communities throughout the transition period.
The transfer of Damang’s ownership, Gold Fields said, will take place in line with Ghana’s mining laws and the specific terms of the agreement between the company and the government.
