Gold Fields will officially hand over its Damang Mine to the Government of Ghana on April 18, 2026, bringing to an end decades of operation at one of the country’s longest-running gold mines.
The decision follows the expiration of the mine’s lease in April 2025 and a subsequent 12-month extension granted to allow for a structured transition. The extension was intended to ensure operational stability while arrangements were made for the asset’s return to state control.
Speaking during a media engagement on the company’s 2025 full-year performance, Gold Fields Chief Executive Officer Mike Fraser explained that although the company had applied for a renewal of the lease, the government indicated its preference for the asset to revert to Ghanaian ownership. He said the company respected that position and was committed to ensuring a smooth and responsible handover.
Since July 2025, a joint transition team comprising officials from the Ministry of Lands and Natural Resources and representatives of Gold Fields has been working at the mine site to oversee the process. From April 19, 2026, the government is expected to assume interim operational control while it determines the long-term future of the asset.
Under Ghanaian mining legislation, mineral rights revert to the state upon the expiration of a lease unless renewed. The Damang transition is therefore consistent with the country’s legal framework governing natural resources and reflects broader efforts to increase national participation in the extractive sector.
The Damang Mine has been a significant contributor to local employment and economic activity in the Western Region. Authorities and company officials have stressed the importance of safeguarding jobs and maintaining steady production during the transition period to avoid disruptions to workers and host communities.
The upcoming transfer is expected to draw close attention from industry stakeholders, as it may signal a shift in how Ghana manages expiring mining leases and balances foreign investment with domestic control of strategic resources.