The Deputy Chief Executive Officer of the Minerals Commission, Isaac Tandoh, has affirmed Ghana’s readiness to assume full control of the Damang Mine following the government’s decision not to renew Gold Fields’ mining lease, which expires in April 2025.
Speaking on the future of the site on the Citi Breakfast Show on April 15, 2025, Mr. Tandoh stressed that while the country continues to welcome foreign investments, mining agreements cannot last indefinitely.
“We support foreign investments, but agreement cannot be in perpetuity. At a point in time, certain things will have to revert to normal. So, those who have an agreement, we will support them to do their work, but when the agreement is over, and you have a better proposition, we will look at it. If not, we will take over the place,” he stated.
When asked what Ghana intends to do with the Damang mine after Gold Fields’ departure, Mr. Tandoh stated bluntly, “We will run it.”
He dismissed concerns over Ghana’s capacity to manage the mine, indicating that there are several unmined smaller pits within the Damang concession that local expertise can immediately begin working on.
To him, the country can, over time, revisit and strategise on developing the larger capital-intensive parts of the mine, which Gold Fields has delayed investing in since 2018.
He also highlighted that the technical know-how required for mining is not in short supply locally.
Credit: CNR