Gold Fields has issued a formal update confirming that the scheduled April 18 transfer of the Damang Mine to the Government of Ghana remains on track, as the South African miner uses its final weeks of ownership to outline what it describes as a decades-long commitment to the country’s economy.
In a statement released on Tuesday, the company said both sides have maintained close coordination over the past year through a joint transition team, with a shared focus on keeping operations viable through the transfer and protecting the livelihoods of workers and host communities.
The update, which follows months of silence from the government on the status of a new operator, reaffirms that mining activities restarted at Damang in May 2025 and that a detailed feasibility study was submitted to the Minerals Commission (MC) and the Ministry of Lands and Natural Resources at the close of 2025. That study projected annual production of around 150,000 ounces, contingent on a capital injection of approximately US$600 million over the mine’s remaining life of at least nine years.
Gold Fields was careful to note that its figures reflect its own assumptions and that any new operator could take a different view.
Chief Executive Officer (CEO) Mike Fraser said the company’s focus is on facilitating a stable handover. “We remain committed to contributing in Ghana’s mining sector and maintaining solid relationships with our stakeholders,” Mr Fraser said.
The company also restated its broader economic footprint in Ghana, citing approximately US$5 billion in capital invested at its Damang and Tarkwa operations since 2000, and roughly US$2.9 billion paid to the state in taxes, royalties and dividends. It employs more than 7,000 people in the country, 99 percent of whom are Ghanaian nationals, and says it has channelled over US$100 million into community programmes covering health, education and infrastructure.
The government has yet to publicly identify a new operator for Damang. A transition team is expected to assume interim operatorship from April 19, with the formal appointment of a substantive operator to follow through a process that may require parliamentary approval.
Gold Fields described Ghana as a cornerstone jurisdiction in its portfolio and said it looked forward to a continued presence in the country through its Tarkwa operations, where lease negotiations for a post-2027 arrangement are separately under way.
