Multiple investors submit proposals for Damang Mine takeover

By Praisebell Rosemond Larbi

The Acting Chief Executive of the Minerals Commission, Isaac Andrews Tandoh, has disclosed that several investors have submitted proposals for the possible takeover of the Gold Fields Damang Mine in the Western Region.

He explained that the government is currently reviewing the proposals, with a final decision expected from the Minister for Lands and Natural Resources in due course.

“Government has not got any preference, but we are looking for the best for Ghanaians and the indigenes of these mining communities,” Mr Tandoh told the media.

He noted that a committee has been established to oversee the transition once the current one-year lease extension granted to Abosso Goldfields Limited expires in April 2026.

 “The committee will review all these interests and make the necessary recommendations to the government on the next line of action,” Mr Tandoh said.

In July 2025, Parliament approved a one-year transitional mining lease agreement between the Government of Ghana and Abosso Goldfields Limited for continued operations at Damang, located in the Wassa West District.

The lease, which followed the expiration of the previous agreement in April 2025, is explicitly non-renewable and prohibits any extension, transfer or related transactions beyond its expiry date.

Initially, the government had planned to take over the mine immediately after the lease expiration but later agreed to extend operations under strict non-renewable terms.

Mr Tandoh dismissed claims that the sector is losing appeal, insisting that Ghana’s mining industry remains attractive.

“We have more companies that have come in to commence mining. By the close of next year, the total number of mining companies operating in the country could witness some significant increase,” he stressed.

Mr Tandoh revealed that under the revised mining law, the government intends to formalise support for host communities, moving away from treating such support as corporate social responsibility. Instead, the contributions would be structured, transparent and trackable.

“There are proposals that mining firms could give out a fraction of their products to support this community development initiative,” he explained.

The Acting Chief Executive also stressed that the fight against galamsey should be viewed as a long-term battle.

“We should see it as a marathon and not a single race. We want our work to speak for us on the galamsey fight,” he added.