The government says it has reached an amicable settlement with Goldfields Ghana Restricted for a transitional plan for the Damang Mine.
An announcement, signed by the Minister of Authorities Communications, Felix Kwakye Ofosu, defined that the operational modalities of the transition concerned issuing a brand new 12-month mining lease to Goldfields’ subsidiary, Abosso Goldfields Restricted, pending parliamentary ratification in Might 2025.
“Beneath the brand new association, Goldfields will resume open-pit mining in the course of the transition interval, safeguarding jobs and conducting feasibility research to determine Damang’s reserves and mine life,” the assertion issued in Accra on Wednesday revealed.
“On the similar time, the professionalcessing of current stockpiles will proceed below the supervision of a joint administration workforce composed of representatives from the Authorities of Ghana and Goldfields,” the assertion added.
“The 2 events will work in good religion to safe a profitable transition and eventual switch of a viable mine to Ghanaian possession,” it emphasised.
Each events, the assertion pressured, have agreed to advance discussions in good religion on the renewal of the lease for the Tarkwa mine, due in 2027, and pledged to work collectively to reinforce Ghana’s potential within the mining sector as a beneficial funding vacation spot
An utility by Gold Fields Restricted to resume the Damang Mining Lease for an additional 30 years was rejected by authorities earlier this month.
The choice to not renew the mining lease brings to an finish of a 30-year lease granted Gold Fields in 1995.
By this choice, Gold Fields Restricted, the world’s seventh largest gold producer of gold could be left with one mine – Tarkwa Mine – in Ghana
