Gold Fields has issued a formal statement reaffirming its commitment to Ghana as the April 18, 2026 transfer of the Damang mine draws within reach, detailing a legacy of more than US$5 billion invested in the country and pledging continued engagement beyond the handover.
In the statement dated March 25, the South African mining group said transition arrangements are progressing as planned under the agreement announced with the Government of Ghana on April 22, 2025, which granted the company a 12-month lease extension to facilitate an orderly handover.
Gold Fields disclosed that mining operations at Damang, suspended ahead of the transition, were restarted in May 2025, and that the company submitted a detailed feasibility study to the government in December 2025 to support the mine’s future under new ownership. The study indicates the mine could sustain operations for at least nine additional years, with projected annual production of between 100,000 and 150,000 ounces.
The company said it has worked alongside a government transition team throughout the process, with both parties focused on protecting jobs, sustaining host community benefits, and preserving the mine’s contribution to the national economy.
Since 2000, Gold Fields said it has invested approximately US$5 billion across its Damang and Tarkwa operations and contributed about US$2.9 billion to the national fiscus through taxes, royalties, and dividends. Its Ghana workforce currently stands at over 7,000 people, 99 percent of whom are Ghanaian nationals. The company also said it has committed more than US$100 million to community development covering health, education, and infrastructure.
Chief Executive Officer Mike Fraser described Ghana as central to the company’s global portfolio.
“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.
Gold Fields confirmed that all decisions regarding the future ownership structure and management of Damang will rest with the Government of Ghana. The Ministry of Lands and Natural Resources has stated that a competitive bidding process will be used to select a credible investor, with three local firms, Engineers and Planners (E&P), BCM International, and consortium Vortex Resources, having submitted bids for the asset.
The formal transfer of ownership is set to proceed on April 18 in accordance with Ghana’s mining laws and the terms agreed between both parties.
