• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana Strikes Transitional Mining Deal with Goldfields for Damang Operations

4 months ago
in Business, Economy, Editor's pick, Features, General, highlights, Home, home-news, latest News, Mining, News
1 min read
0 0
0
121
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Strikes Transitional Mining Deal with Goldfields for Damang Operations

The Government of Ghana has reached a transitional agreement with Goldfields Ghana Limited to extend operations at the Damang mine for an additional year, a move aimed at safeguarding jobs and sustaining production while exploring long-term viability.

According to a statement issued, a new 12-month mining lease will be granted to Abosso Goldfields Limited, a subsidiary of Goldfields, as part of a transitional arrangement pending parliamentary ratification expected in May 2025. The agreement allows for the continuation of open-pit mining alongside stockpile processing, which will be overseen by a joint government-company management team.

The interim framework is designed to enable both parties to conduct feasibility studies to assess the mineral reserves and future potential of the Damang site. Government officials noted that the strategic decision is not only about immediate economic continuity but also forms part of a broader effort to transfer mining operations into Ghanaian ownership over time.

Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, who signed the statement, noted that “the Government of Ghana and Goldfields have committed to working together in good faith to ensure a seamless transition and the long-term sustainability of mining operations in the country.”

The Damang mine, which had faced uncertainty following the lapse of its previous lease, is now set for a revival—at least temporarily. The arrangement is said to be widely considered a bridge between existing foreign operations and Ghana’s ambitions for greater local control in its mining sector.

In addition to the Damang lease, the agreement signals intent to commence early negotiations on the Tarkwa mine lease, which expires in 2027. Both parties are said to have pledged to collaborate toward enhancing Ghana’s image as a preferred destination for mining investments, amid rising scrutiny over resource nationalism and community benefit frameworks.

RelatedPosts

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

The announcement comes at a time when Ghana is seeking to recalibrate its natural resources strategy by encouraging local participation, streamlining regulations, and strengthening governance in the extractive sector.

Industry analysts suggest that while the transitional lease provides breathing space, the success of the eventual handover will depend on the robustness of feasibility assessments and the government’s ability to identify credible Ghanaian operators to take over the mine.

The coming months will prove critical as Parliament reviews the transitional lease and as stakeholders await the outcome of feasibility studies, which could determine whether Damang remains a symbol of successful resource governance or becomes a cautionary tale in Ghana’s mining narrative.

 

Tags: Damang MineGhana Strikes Transitional Mining Deal with Goldfields for Damang OperationsGoldfieldsGoldfields Ghana LimitedGovernment of GhanaNorvanReports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

US Open: Osaka, Alcaraz, Djokovic Shine as Gauff Joins Them in Last 16

Morocco Beat Madagascar to Secure Historic Third CHAN Title

$41bn Reserves vs Empty Pockets: When Will Relief Come For Nigerians?

Africa Emerges as Manufacturing Haven Amid US–India Trade Tensions

Trending

Aviation

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

August 31, 2025

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA African airlines saw...

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

August 31, 2025

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

August 31, 2025

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

August 31, 2025

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

August 31, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.