Gold Fields Confirms Steady Progress on Damang Mine Transfer to Government
Gold Fields says preparations for the transition of its Damang mine to the Government of Ghana are progressing steadily, in line with previously agreed timelines, with the transfer of ownership scheduled for April 18, 2026.
The transition follows an agreement announced on April 22, 2025, which granted the mining firm a 12-month extension of its lease to facilitate a structured and safe handover of the asset to the State.
As part of efforts to sustain operations ahead of the transition, the company resumed mining activities at Damang in May 2025 and has since continued to invest in the asset. This includes the completion and submission of a detailed feasibility study to the government in December 2025, aimed at extending the mine’s lifespan.
Gold Fields noted that over the past year, it has worked closely with the Government of Ghana and the Government Transition Team to ensure the mine is well-positioned for continued sustainable operations post-transfer.
“The shared focus… 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,” the company stated.
The mining firm emphasised that the final decision on the future ownership structure of the Damang mine rests solely with the Government of Ghana, in accordance with the country’s mining laws and the terms of the agreement.
Gold Fields, which has operated in Ghana for more than three decades, highlighted its contribution to the economy through employment, local procurement, and fiscal payments. Since 2000, the company says it has invested approximately US$5 billion in its Damang and Tarkwa operations, while contributing about US$2.9 billion in taxes, royalties, and dividends to the state.
The company currently employs over 7,000 people in Ghana, with 99% of its workforce being Ghanaian. It also disclosed investments exceeding US$100 million in community development projects spanning health, education, and infrastructure.
Chief Executive Officer of Gold Fields, Mike Fraser, reaffirmed the company’s commitment to Ghana, describing the country as a “cornerstone jurisdiction” in its portfolio.
“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,” he said.
“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,” he added.
Gold Fields further assured stakeholders of its commitment to ensuring operational continuity and responsible management throughout the transition period, while supporting employees, contractors, and host communities.
