Gold Fields Limited’s application to renew the Damang Mining Lease—held by its subsidiary, Abosso Goldfields Ltd—for another 30 years has been rejected.
The decision was disclosed in a statement issued by Gold Fields Ghana Limited, indicating that its application to the Minerals Commission to extend the Damang Mine lease had been declined. The current 30-year lease, originally granted on April 18, 1995, is set to expire on April 18, 2025. This marks a pivotal moment in what appears to be the government’s broader agenda to reshape the country’s economic landscape.
In response to the development, the Africa Centre for Energy Policy (ACEP) held a press conference to engage the media and the wider public on the implications of the government’s decision—based on the Minerals Commission’s advice—not to renew the lease.
ACEP’s Executive Director, Benjamin Boakye, disclosed that the organization had been closely monitoring the issue throughout the week. He explained that, in the interest of public accountability and the integrity of natural resource governance, ACEP initiated engagements with key stakeholders to assess whether the government’s decision adhered to due process and sufficiently safeguarded the state’s interests.
“We held discussions with government officials on Monday, the company on Tuesday, and reviewed relevant legal and regulatory provisions in between,” Mr. Boakye said.
He further emphasized that, as a responsible policy think tank, ACEP had witnessed past instances where public officials acted with the belief that their decisions served the national interest, only for those decisions to later result in significant costs to the state—citing the Ameri power deal as one such example.
While acknowledging that Ghana must derive full value from its mineral resources, Mr. Boakye stressed that stakeholders genuinely committed to this goal must be transparent and evidence-based in demonstrating how their actions benefit the public.
“The government’s approach to this matter should reflect diligence, legal compliance, and a genuine commitment to Ghana’s long-term mineral wealth. A rushed or contentious decision not only risks international litigation and reputational harm but could also undermine investor confidence and the rule of law,” he warned.
He concluded by noting that public commentary and even statements by state officials suggest that the decision may be part of a broader attempt to nationalize the mine—an implication that, if true, raises further questions about transparency and strategic intent.
By Madjid Diallo || GhanaNewsOnline