21/04/2025
π¬π Ghanaian Company Poised to Take Over Damang Gold mine?
An indigenous Ghanaian mining firm is reportedly positioning itself to take over the Damang Gold Mine from Gold Fields Ghana, following the governmentβs recent decision not to renew the companyβs mining lease, according to sources familiar with the matter.
The decision comes ahead of the expiration of Gold Fieldsβ mining lease. Gold Fields acquired the mine in 2002. It was previously owned by Australiaβs Ranger Minerals. The Minerals Commission has cited non-fulfilment of certain regulatory requirements as the basis for rejecting the renewal application.
Gold Fields, which is one of Ghanaβs largest gold producers and a major employer in the Western Region, is said to be in continued talks with the government to reach a mutually acceptable resolution that would allow it to extend its operations at Damang after April 18th, 2025. However, should these negotiations fail, The High Street Journal has gathered that an experienced Ghanaian-owned company in the mining sector, which also serves as a contractor for some mining companies, is preparing to formally express interest in acquiring the Damang concession through the appropriate channels.
Note π: The π¬π§ British Government has seized control of British Steel. The πΊπΈ Donald Trump wants to keep US Steel. What is Ghana doing ?