Ghana has awarded the lease for the Damang Mine to local company Engineers & Planners Ltd, marking a significant step in the country’s push to increase domestic participation in its mining sector.
The mine, previously operated for over two decades by Gold Fields, was taken over by the government after rejecting the firm’s lease renewal, breaking with the long-standing practice of automatic extensions, as reported by Reuters.
The selection of Engineers & Planners followed a competitive bidding process led by Ghana’s Minerals Commission. The company demonstrated access to over $505 million in financing, surpassing the government’s minimum requirement, while also scoring highly on technical capability, safety standards, equipment, and local content criteria.
Gold Fields has indicated it will support a smooth transition of operations, as the mine, one of Ghana’s key gold assets enters a new phase under local control.
Analysts say the move reflects a wider continental trend, with African governments increasingly asserting control over strategic resources, prioritising local firms, and seeking to retain more value from their mineral wealth.
