The agreement included the grant of a 12-month mining lease extension to Gold Fields to support the safe and orderly transition of the Mine and transfer of ownership to the government, set to take place on April 18, 2026.   

As part of the commitment to sustain ongoing operations at Damang, mining activities were successfully restarted in May 2025.   

Since then, Gold Fields had continued to invest in the Mine, including completing and providing to the government a detailed feasibility study in December 2025, setting Damang up for an extended life of Mine.  

This was confirmed in a press statement released by the company on March 25, 2026.  

It added that over the past year, Gold Fields had worked closely with the Government of Ghana and the Government Transition Team to prepare the Mine for transfer of ownership.   

Their focus was to ensure that Damang run smoothly after the handing over, so they could support ongoing employment, host community development, and Ghana’s economy.   

The statement said, “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.”  

Mr Mike Fraser, Chief Executive Officer of Gold Fields, said: “Gold Fields had 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.”  

Since 2000, Gold Fields had 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.  

Additionally, over US$100 million had been pumped into health, education, infrastructure, and other projects, which were delivering real and ongoing positive benefits for their host communities.  

More than 7,000 people currently worked with Gold Fields operations in Ghana, with 99 per cent of them being Ghanaians.