Mining giant Gold Fields has confirmed that preparations for the state takeover of the Damang mine are progressing smoothly, with the transfer of ownership scheduled for April 18, 2026.
In a statement released on March 25, 2026, the company said all arrangements are on track in line with the agreement signed with the Government of Ghana and publicly announced on April 22, 2025. The deal included a 12-month extension of the Damang mining lease to ensure a safe and orderly handover.
The transition represents a major milestone for Ghana’s mining sector, as the state prepares to assume control of one of the country’s key gold operations.
Gold Fields noted that mining activities at Damang, previously suspended, were successfully restarted in May 2025 to sustain operations during the transition period. The company has continued to invest in the mine, submitting a comprehensive feasibility study to government authorities in December 2025. This study is expected to support an extended operational lifespan under new ownership.
Over the past year, Gold Fields has worked closely with government officials and a dedicated transition team to ensure the mine is fully prepared for handover. Both parties have prioritised preserving jobs, supporting host communities, and maintaining the mine’s contribution to Ghana’s economy.
The final phase will see the formal transfer of ownership in line with Ghana’s mining laws, with decisions regarding future management and ownership structure resting solely with the Government of Ghana.
Gold Fields has operated in Ghana for more than three decades and has established a significant footprint in the country’s mining industry. Since 2000, the company has invested approximately US$5 billion in its Damang and Tarkwa operations and contributed about US$2.9 billion to the national treasury through taxes, royalties, and dividends.
The company currently employs over 7,000 people, 99% of whom are Ghanaian, and has focused on local procurement and workforce development. Beyond mining, Gold Fields has invested over US$100 million in community initiatives, supporting health, education, and infrastructure development in host communities.
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Chief Executive Officer Mike Fraser described Ghana as a cornerstone of Gold Fields’ global operations, reaffirming the company’s commitment to strong partnerships with the government and local communities.
“Gold Fields has had the privilege of operating in Ghana for more than 30 years, and we are proud of the partnerships we have built with the Government of Ghana and host communities,” Fraser said. “We remain committed to contributing to Ghana’s mining sector even as we facilitate the Damang transition.”
The upcoming transfer will test Ghana’s capacity to manage large-scale mining assets while ensuring operational continuity, safeguarding employment, and maximising the value of its natural resources. For Gold Fields, the process marks both a transition and a reaffirmation of its long-term partnership with Ghana.
