Global mining firm Gold Fields has announced the final phase of its transition process for the Damang mine, confirming plans to transfer ownership to the Government of Ghana while assuring stakeholders of continued operational stability and support.
The company said the handover is in line with Ghana’s mining laws and existing agreements with the state, stressing that decisions on the mine’s future ownership will be determined solely by the government.
Gold Fields emphasised its commitment to ensuring a smooth and responsible transition, with a strong focus on protecting jobs, sustaining host community development, and maintaining the mine’s broader economic contributions.
In a statement issued this morning, the global mining giant indicated
“Our operations in Ghana currently employ more than 7,000 people, 99 percent of whom are Ghanaian,” the company noted, adding that it has consistently prioritised local capacity building and procurement from indigenous businesses.
The miner also highlighted over US$100 million in investments in health, education, infrastructure, and community development projects, which it says continue to deliver long-term benefits to its host communities.
Chief Executive Officer Mike Fraser reaffirmed the company’s enduring ties with Ghana, describing its more than 30-year presence as both impactful and mutually beneficial.
“Gold Fields has had the privilege of operating in Ghana for more than 30 years and we are proud of the partnerships that we have built with the Government of Ghana and our host communities over that time,” he said.
Despite exiting Damang, the company underscored that Ghana remains a cornerstone jurisdiction within its global portfolio, with continued operations at Tarkwa and a long-term commitment to the country’s mining sector.
Since 2000, Gold Fields has invested approximately US$5 billion in its Ghanaian operations and contributed about US$2.9 billion to the national fiscus through taxes, royalties, and dividends.
The company reiterated that it will work closely with stakeholders to ensure continuity of operations and a stable transition process, aimed at preserving livelihoods and sustaining economic value in the mining communities.
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