Acting Chief Executive of the Minerals Commission, Isaac Andrews Tandoh, has confirmed that several investors have submitted proposals for the potential takeover of the Goldfields Damang Mines.
Speaking on PM Express Business Edition on September 4, 2025, with host George Wiafe, Mr. Tandoh said the proposals are under review, and a final decision will be taken soon by the Minister for Lands and Natural Resources.
He assured that government’s priority is to select an option that will secure the long-term viability of the mine and benefit both Ghanaians and host communities.
“Government has no preferred choice, but we are determined to choose what is best for Ghanaians and the indigenes of these mining communities,” he emphasised.
Mr. Tandoh also revealed that a transition committee has been established to manage the process once the current one-year extension granted to Goldfields expires. “The committee will review all these interests and make the necessary recommendation to government on the next line of action,” he said.
Background
In July 2025, Parliament approved a one year transitional mining lease between the Government of Ghana and Abosso Goldfields Limited to continue operations at Damang in the Wassa West District of the Western Region.
The lease, which took effect after the previous agreement expired on April 18, 2025, will run until April 2026 under strict non renewable terms. It explicitly prohibits extension, transfer, or related transactions beyond its expiry.
Although government initially planned to take over operations directly after the lease expired, further consultations led to the one-year transitional arrangement.
Mining Sector Investments
Concerns have been raised that ongoing regulatory reforms in the mining sector could discourage investment. However, Mr. Tandoh dismissed such claims, pointing out that new companies are already entering the market.
“We have more firms commencing mining, and by the close of next year, the total number of mining companies in Ghana could see significant growth,” he explained.
He stressed that every proposal submitted for the Damang takeover will be assessed carefully.
Supporting Mining Communities
The Acting Chief Executive also highlighted government’s plan to strengthen support for host communities under the revised mining law.
“We want to move away from the perception of community support as just corporate social responsibility. It should be structured, transparent, and trackable,” he said.
He noted that one proposal under consideration is for mining firms to allocate a fraction of their production directly to community development initiatives.
On the galamsey fight, Mr. Tandoh urged patience, describing the effort as “a marathon and not a single race.” He reaffirmed government’s commitment to tackling illegal mining.
“We want our work to speak for us on the galamsey fight,” he concluded.
