- The Ministry of Lands and Natural Resources has announced a strategic intervention to safeguard the future of the Damang Gold Mine, as the current mining lease held by Abosso Goldfields Limited (a subsidiary of Gold Fields Ltd) prepares to expire on April 18, 2026.
The move marks a pivotal transition for one of Ghana’s most significant mineral assets.
After a one-year extension, the government is now looking beyond the current operatorship to ensure the mine remains a cornerstone of the national economy.
With the countdown to the April deadline underway, the Ministry, led by the government’s commitment to industrial stability, has outlined a clear roadmap to prevent any disruption in operations.
The government’s primary objectives during this transition include:
Implementing immediate measures to safeguard the livelihoods of thousands of workers employed directly and indirectly by the mine.
Maintaining existing service contracts to guarantee the local supply chain remains intact.
Initiating a process to identify a “credible investor and operator” through a transparent, competitive bidding phase.
”Government firmly believes that the Damang Mine remains a key national asset that can continue contributing significantly to Ghana’s gold production, export earnings, and employment,” the Ministry stated in a release dated March 24, 2026.
A notable highlight of the Ministry’s announcement is the emphasis on long-term, Ghanaian-centered ownership.
While the government intends to maintain Ghana’s reputation as a top-tier destination for foreign investment, there is a clear vision to increase local participation in the mining sector’s value chain.
The transition is designed to usher in a “new chapter” for the mine, one that aligns with a broader national vision for sustainable, Ghanaian-driven growth.
For the communities surrounding the Damang Mine, the government’s proactive stance offers a sense of security.
The Ministry reaffirmed its commitment to ensuring that the mine continues to deliver “lasting value” to local residents, even as the identity of the operator changes.
As the April 2026 deadline approaches, the Ministry has pledged full transparency, promising to uphold responsible stewardship of the nation’s mineral wealth throughout the bidding and handover process.
By 1960news.com
