Govt Issues 12-Month Mining Lease to Goldfields
The Minister of State for Government Communications, Felix Kwakye Ofosu, has announced that a one-year lease has been granted to Abosso Goldfields Limited, a subsidiary of Gold Fields Limited for the Damang Mine.
This forms part of an amicable agreement reached on a transitional plan for the Damang Mine.
“The operational modalities of the transition involve issuing a new 12-month mining lease to Goldfields’ subsidiary, Abosso Goldfields Limited, pending parliamentary ratification in May 2025,” he announced in a statement.
He said under the new arrangement, Goldfields will resume open-pit mining during the transition period, safeguarding jobs and conducting feasibility studies to establish Damang’s reserves and mine life.
At the same time, the processing of existing stockpiles will continue under the supervision of a joint management team composed of representatives from the Government of Ghana and Goldfields, Ofosu Kwakye noted.
“The two parties will work in good faith to secure a successful transition and eventual transfer of a viable mine to Ghanaian ownership.”
Meanwhile, the President’s spokesperson said both parties have agreed to advance discussions in good faith on the renewal of the lease for the Tarkwa mine, due in 2027.
They have further pledged to work together to enhance Ghana’s potential in the mining sector as a favourable investment destination.
The government had earlier rejected an application from Goldfields to renew its mining lease for another 30 years.
Source: opemsuo.com/Hajara Fuseini
