Precious Metals
Posted By OrePulse
Published: 24 Apr, 2025 06:13
Ghana and Gold Fields reach transitional deal on Damang mine
Last week, Ghana assumed operational control of the mine after it rejected an application from the South African company to renew its lease, breaking a tradition of automatically renewing licenses.
The presidency said in a statement that a new 12-month mining lease will be issued to a Gold Fields' subsidiary pending parliamentary ratification in May.
During the transition period, Gold Fields will resume open-pit mining and conduct feasibility studies to establish Damang's reserves and mine life, the presidency said in a statement.
Damang is the smaller of Gold Fields' two operations in Ghana, Africa's leading gold producer.
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