Engineers and Planners Company Limited (E&P) said approval for its attempt to acquire the Damang Mine dates back to 2024, countering suggestions that the process is recent or politically driven.
The Ghanaian mining firm pointed to a “no-objection” letter issued by the Ministry of Lands and Natural Resources on 12 March 2024, which allowed it to enter into negotiations with Gold Fields over the acquisition of shares in the mine.
Details
The letter, issued under the Minerals and Mining Act, made clear that while the government had no objection to the talks, any final agreement would require full state approval and would have no legal effect without it.
E&P said its interest in the Damang asset predates the letter, tracing its involvement to 2022 when it operated as a contractor at the mine and began positioning itself for a possible takeover.
Gold Fields signalled a shift in its operations in September 2023, notifying E&P of plans to wind down active mining at Damang and move toward processing stockpiles until the mine’s expected end of life in 2025.
E&P responded later that month with a formal proposal to acquire the mine, but Gold Fields indicated it was still assessing its options, creating uncertainty over the asset’s future.
By 2025, discussions over the transition had intensified, with Gold Fields acknowledging E&P’s operational experience and recommending its inclusion in transition planning.
Ghana’s Lands Minister at the time, also recognised the company’s engagement with Gold Fields and its role in the process.
However, E&P said progress has stalled in recent months, citing delays in securing meetings with Gold Fields to advance final negotiations.
The Damang Mine, one of Ghana’s long-standing gold assets, is expected to be handed over to the government in April 2026 following the expiry of its 30-year lease, setting a deadline for decisions on its future ownership and operations.
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