The Ministry of Lands and Natural Resources has announced that it is initiating a competitive bidding process to find a new investor and operator for the Damang Gold Mine.
The move comes as the current mining lease, held by Abosso Goldfields Limited—a subsidiary of Gold Fields—is set to expire on April 18, 2026.
The decision follows a one-year extension previously granted to the current operators.
In a press statement signed by the minister for lands and natural resources, Hon. Emmanuel Armah-Kofi Buah, the government noted that the mine remains a “key national asset” with significant potential to contribute to the country’s gold production, export earnings, and employment sectors.
Central to the government’s transition plan is the protection of the existing workforce and the maintenance of current service contracts.
According to the Ministry, this aimed at securing a “credible investor” who can ensure the site’s long-term viability.
The government intends to use this transition to advance a vision of growth driven by local investment, while still maintaining Ghana’s reputation as a stable destination for responsible foreign direct investment.
“To ensure continuity after the lease expires, the government has initiated measures to safeguard jobs, maintain service contracts, and reassure stakeholders,” the statement read.
The Ministry further reiterated its commitment to transparency throughout the bidding process. The goal is to usher in a “new chapter” for the Damang Mine that benefits host communities and the national economy alike.
By: Rainbowradioonline.com/Ghana
