Mining giant Gold Fields has reaffirmed its long-standing commitment to Ghana as preparations intensify for the transfer of ownership of the Damang mine to the state, scheduled for April 18, 2026.
In a statement dated March 25, 2026, the company indicated that arrangements for the transition are progressing steadily, in line with an agreement reached with the Government of Ghana and publicly announced on April 22, 2025.
The agreement provided for a 12-month extension of the Damang mining lease to enable Gold Fields to undertake a safe and orderly handover of the asset.
The transition marks a significant milestone in Ghana’s mining sector, as the state prepares to assume control of one of the country’s notable gold operations.
Gold Fields disclosed that mining activities at Damang, which had been suspended, were successfully restarted in May 2025 to sustain operations during the transition period.
The company has since continued to invest in the mine, culminating in the completion and submission of a detailed feasibility study to government in December 2025.
The study is expected to position the mine for an extended lifespan under its new ownership.
Over the past year, the company has worked closely with government authorities and a dedicated transition team to ensure that the mine is adequately prepared for the handover.
According to the statement, both parties have maintained a shared focus on ensuring that Damang remains viable and sustainable after the transfer, with particular emphasis on preserving jobs, supporting host communities, and maintaining its contribution to the national economy.
The final phase of the process will see the formal transfer of ownership in accordance with Ghana’s mining laws and the agreed terms between both parties.
Gold Fields stressed that decisions regarding the future ownership structure and management of the mine will rest solely with the Government of Ghana.
Gold Fields, which has operated in Ghana for more than three decades, highlighted its 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 fiscus through taxes, royalties, and dividends.
The company also underscored its role as a major employer and driver of local economic activity.
Its operations in Ghana currently employ over 7,000 people, with 99 percent of the workforce being Ghanaian.
It has further prioritised local procurement and invested heavily in building the capacity of its workforce.
Beyond its core mining operations, Gold Fields noted that it has committed more than US$100 million to community development initiatives spanning health, education, and infrastructure, delivering tangible benefits to host communities.
Chief Executive Officer of Gold Fields, Mike Fraser, described Ghana as a cornerstone of the company’s global portfolio and reiterated its dedication to maintaining strong partnerships in the country.
“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.
He added that the company remains committed to contributing to Ghana’s mining sector and sustaining its long-term presence, even as it facilitates the transition of the Damang mine.
The impending transfer is expected to test Ghana’s capacity to manage large-scale mining assets while ensuring operational continuity, safeguarding employment, and maximising value from its natural resources.
For Gold Fields, the process represents both a transition and a reaffirmation of its enduring relationship with Ghana, where it continues to play a pivotal role in the extractive industry.
