Several investors have expressed interest in taking over operations at the Goldfields Damang Mines, Acting Chief Executive of the Minerals Commission, Isaac Andrews Tandoh, has revealed.
Speaking on PM Express Business Edition on September 4, 2025, Mr. Tandoh disclosed that government is currently reviewing proposals and will settle on the option that best serves Ghana and host mining communities.
“Government has not got any preference, but we are looking for the best for Ghanaians and the indigenes of these mining communities,” he stressed.
He added that a special committee has been set up to oversee the transition once Goldfields’ one-year lease extension ends in April 2026.
Background
In July 2025, Parliament approved a non-renewable one-year transitional lease for Abosso Goldfields Limited, following the expiration of its original agreement in April. The extension, set to end in April 2026, prohibits transfer, mortgage, or renewal.
While government had initially planned a direct takeover, consultations led to the transitional arrangement under strict terms.
Mining Sector Outlook
Mr. Tandoh dismissed concerns that regulatory reviews are discouraging investment, insisting that “more companies are coming in to commence mining” and predicting a rise in mining firms by the end of next year.
On community development, he said government intends to legislate mandatory support for host communities, moving away from voluntary corporate social responsibility models. Proposals under consideration include requiring firms to allocate a fraction of their production to community initiatives.
Touching on illegal mining (galamsey), he described the fight as “a marathon, not a single race,” assuring that government remains committed to tackling the menace.
Source – My News Ghana
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