info@businessghana.com
The Senior Vice-President of Gold Fields Ghana and in charge of local content policies, Elliot Twum, has disclosed that the company is focused on empowering Ghanaian businesses and individuals to take ownership of the industry’s future.
Speaking in an interview with the Daily Graphic Mr Twum said Gold Fields was not just about gold production but about building a strong legacy that went beyond mining.
“Gold Fields is not just here to mine gold. We want to leave behind a strong legacy. That means investing in Ghanaian capacity, skills and businesses that can survive and thrive beyond mining,” he said.
According to him, the company had built partnerships with local entrepreneurs, helping them grow from small traders into major players in their fields.
He mentioned that companies such as Medeama Club, which started with steel fabrication, are now well-established businesses, even owning a football club.
Western Transport, which Gold Fields supported by providing buses in its early stages, has grown into a national transport operator.
Gensa Energy, another partner, has evolved into a net exporter of electricity within the West African sub-region.
“These are not just stories. They are examples of our commitment to enterprise development. This is how we help reset the economy,” he said.
Mr Twum also disclosed that the recent appreciation of the Ghanaian cedi was having a strong and positive impact on the mining industry.
He explained that most of the company’s operations are dollar-denominated, and a stronger cedi would help reduce the cost of doing business locally.
“Our salaries and operational budgets are pegged in dollars but paid in cedis. So, a stronger cedi means we need fewer cedis to meet the same dollar obligations. It is a positive for the company’s bottom line and, more importantly, for the broader Ghanaian economy,” he said.
He revealed that the mining sector relied heavily on imports, especially equipment, spare parts, and services priced in foreign currency.
Therefore, any strengthening of the local currency will improve cost efficiency and support long-term sustainability.
Touching on the company’s environmental responsibility, Mr Twum disclosed that Gold Fields was among the best in the country when it came to environmental management.
“The company adheres to global frameworks such as the Equator Principles, IFC performance standards, and ISO protocols to ensure minimal impact on surrounding communities.”
He explained that Gold Fields was recycling about 85 per cent of the water it used and had strict cyanide management systems to avoid any leakage or contamination.
“We practise what we call concurrent rehabilitation. As soon as a section of a mine becomes available, we start restoring the land. At our Damang site, for instance, we have rehabilitated land now growing cash crops, which proves the land can be useful after mining,” he said.
Gold Fields’ Damang operation was recently ranked the best in Ghana by the Environmental Protection Agency (EPA), with its Tarkwa site also listed among the top performers.
The company also continues to support farmers through oil palm plantations and organised cooperatives. It provides seedlings, nursery support, and technical guidance to ensure the projects benefit the communities.
Mr Twum also addressed the recent one-year extension of the company’s mining lease by the government.
He said the company had already resumed operations in line with the lease terms and was conducting feasibility studies to plan for the future of the Damang mine.
“We are doing our part to ensure that when we eventually hand over, there will be proper documentation and continuity. Whoever takes over will have the full picture,” he said.
