Gold Fields has confirmed that preparations for the transition of the Damang Mine to the Government of Ghana are progressing steadily, in line with an agreement reached last year.
The arrangement includes a 12-month mining lease extension granted to Gold Fields to ensure a safe and orderly transfer of ownership, with the handover scheduled for April 18, 2026.
As part of the commitment to sustain ongoing operations at Damang, mining activities were successfully restarted in May 2025.
Gold Fields has continued to invest in the mine, including by completing and providing to the Government of Ghana a detailed feasibility study in December 2025, setting Damang up for an extended life of mine.
Over the past year, Gold Fields has worked closely with the Government of Ghana and the Government Transition Team to prepare the mine for transfer of ownership.
The shared focus of both Gold Fields and the Transition Team throughout this process has been to ensure that Damang is well-positioned for continued sustainable operations following the transition, supporting ongoing employment, host community development, and broader economic contributions in Ghana.
Gold Fields has operated in Ghana for over three decades and has made a significant contribution to the country’s economy through employment, local procurement, tax and royalty payments, and sustained investment in host communities.
The final step in the transition process is the transfer of ownership of the Damang mine to the Government of Ghana, in line with Ghana’s mining laws and the terms of the agreement reached with Government.
Decisions regarding the future ownership of the mine rest solely with the Government of Ghana.
Gold Fields is committed to playing our role in supporting the transition of the Damang mine, as part of our broader commitment to long-term, sustainable operations in Ghana, a cornerstone jurisdiction in its portfolio.
Gold Fields is proud of its more than three-decade history of working with our stakeholders in Ghana. Since 2000, we have invested capital of approximately US$5.0 billion in the Damang and Tarkwa mines, and contributed US$2.9 billion to the Ghana fiscus in taxes, royalties and dividends.
Gold Fields remains fully committed to supporting its employees, contractors, and host communities throughout the transition period.
The Company is focused on ensuring continuity and responsible management of the operations during this process.
Gold Fields supports the objective of ensuring continuity of operations and is working to facilitate a stable and well-managed transition.
Gold Fields, which has operated in Ghana for over three decades, highlighted its significant contribution to the economy, including approximately US$5 billion in capital investment in the Damang and Tarkwa mines since 2000, and about US$2.9 billion in taxes, royalties, and dividends paid to the state.
The company currently employs over 7,000 people in Ghana, with 99% being Ghanaian, and has invested more than US$100 million in community development projects, spanning health, education, and infrastructure.
Mike Fraser, CEO of Gold Fields, said:
“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. We remain committed to contributing to Ghana’s mining sector and to maintaining solid relationships with our stakeholders. We reiterate the importance of Ghana to Gold Fields, and look forward to continuing our long-standing presence and impact in the country for many years to come”
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