Ghana Transfers Damang Gold Mine to Local Firm Engineers & Planners

The government rejected Gold Fields' bid for a 30-year lease extension due to weak reserves data and vague plans, opting instead for a tender won by fully Ghanaian-owned Engineers & Planners, led by Ibrahim Mahama. E&P quickly moved in with a $250 million machinery fleet, including Caterpillar trucks and Liebherr excavators, to ramp up production and create jobs at the site, which yielded 97,500 ounces in
2025. This reflects Ghana's shift toward local ownership and value creation, though some link it to South African tensions, a connection experts call misguided as Gold Fields pushes for renewal at its bigger Tarkwa mine.