General News
Ghana gov’t rejects Gold Fields Damang lease renewal for another 30 years
An application by Gold Fields Limited to renew the Damang Mining Lease held by its subsidiary, Abosso Goldfields Limited, for another 30 years has been rejected, a top government source has revealed.
This was corroborated in a statement released by Gold Fields Ghana Limited that the application to the Minerals Commission to extend the mining lease for the Damang Mine had been declined.
The decision not to renew the mining lease comes at a time when the existing 30-year lease granted on April 18, 1995, expires on April 18, 2025, marking a significant milestone in the government’s mission to reset the nation’s economic landscape.
Gold Fields Limited is the seventh biggest producer of gold in the world, and has two operational mines in Ghana, namely the Tarkwa Mine, which is operated by Gold Fields Ghana, and the Damang Mine, which is run by Abosso Goldfields Limited.
Renowned for its rich gold deposits, the Damang Mine is poised to play a pivotal role in strengthening Ghana’s economy.
The Government of Ghana held a 10 per cent share in both mines.
According to the 2024 Annual Report of the Gold Fields Group, which has mines in Canada, Australia, Peru, Chile and South Africa, the two mines in Ghana accounted for 32 per cent of the group’s gold production in 2024, meaning about a third of the entire gold produced by Gold Fields worldwide comes from Ghana.
Earlier reports indicated that before mining stopped at Damang, the Ghana mines of the company contributed about 40 per cent to the group.
Abosso Mine
The Abosso Mine initially operated from 1882 until 1956.
From 1989, Ranger Exploration, initially with other partners, first examined the feasibility of re-treating tailings from the Abosso Mine, and then the northeast extension of the Banket Conglomerates towards Damang village.
Further works carried out by Ranger between 1990 and 1992 demonstrated near-surface mineralisation.
By early 1996, three million ounces of mineral resources had been estimated in the area, and a feasibility study demonstrated that open pit mining would be viable.
Although the mining lease was granted on April 18, 1995, mining at the concession commenced in August 1997, with the first gold pour in November after the construction of the Damang Mine was completed earlier that year.
Gold Fields Limited and Repadre Capital Corp., a Toronto-listed mining royalty company, signed an agreement in 2001 to buy Ranger Exploration’s 90 per cent interest in Damang.
IAMGold and Repadre merged to give IAMGold an 18.9 per cent interest in Damang, and Gold Fields a 71.1 per cent interest.
In 2011, Gold Fields bought out IAMGold’s remaining interest in Damang, and the company now owns a 90 per cent stake, with the Government of Ghana holding the remaining 10 per cent.
According to the 2024 annual report of Gold Fields, no mineral reserves were declared at Damang, which meant there were no defined gold reserves to be mined there.
Actual mining at the mine is said to have stopped in 2023 as the company resorted to processing stockpiles.
In fact, it is stated in the Mineral Resources and Reserves Supplement to the Integrated Annual Report of 2023 that no exploration was proposed for the Damang Mine in 2024.
No reserves
The lack of reserves and the lack of funds for exploration spending for the Damang Mine appeared to suggest that the company was not interested in expanding mine life for the mine at Damang.
Additionally, the company this year intended to continue the processing of stockpiles in line with the life of the mine for at least one year.
The mine has since been considered as one that has not met the requirements and justification for an extension of lease.
Source: Graphic Online
General News
MINISTER FOR YOUTH DEVELOPMENT AND EMPOWERMENT INAUGURATES GRANT MANAGEMENT COMMITTEE FOR THE ADWUMAWURA PROGRAMME
Earlier today, the Grant Management Committee of the Adwumawura Programme was officially inaugurated by the Minister for Youth Development and Empowerment.
The inauguration marked a critical stage in the implementation of the Adwumawura Programme, because it symbolizes an essential step in our collective effort to ensure transparency, accountability, and equity in the management of public resources entrusted to the National Entrepreneurship and Innovation Programme under The Adwumawura Programme.
The membership of the committee was drawn from Industry Players, Academia, Financial Institutions, Development Partners and Government Agencies.
1. University of Ghana Business School Innovation Center
2. Ministry of Youth Development and Empowerment
3. Ministry of Finance
4. ABSA Bank
5. Venture Capital Trust Fund
6. British Council
7. Private Sector (C.E.O of Akosombo Catering)
8. National Youth Authority
9. National Entrepreneurship and Innovation Programme
10. Ghana Youth Federation
11. MASLOC
In his remarks, the Minister for Youth Development and Empowerment reaffirmed government’s commitment to youth empowerment, job creation, and sustainable entrepreneurship. He emphasized that the Adwumawura Programme is not just about funding, but about building resilient businesses that can drive inclusive national development. He charged them to uphold the highest standards of professionalism, fairness, and diligence in the discharge of their duties.

The C.E.O of NEIP highlighted the need for the Grant Management Committee to be intentional about inclusiveness, equity, impactfulness, and innovation in the selection of at least 2, 000 viable businesses.
On his part, the Board Chairman assured the committee of their full support and urged them to execute their mandate dispassionately, transparently, in a non-partisan manner that will engender trust and confidence in the selection process.

Prof. George Acheampong from the University of Ghana Business School speaking on behalf of the committee thanked the Minister and NEIP for the opportunity to serve. He, on behalf of the committee members, assured the Minister and the Board of NEIP of their readiness and commitment to discharge their mandate diligently, fairly, transparently, and with utmost integrity.
General News
Chinese Ambassador bids farewell to President Mahama
President John Dramani Mahama today granted an audience to the outgoing Chinese Ambassador to Ghana, His Excellency Tong Defa. The president lauded Mr Tong for strengthening the existing relations between Ghana and China during his tenure.
“You haven’t just been an ambassador or diplomat, you have been a friend, and I’m sad to see you go. Of course, our relations with China are excellent,” the President remarked.
Mr Mahama also thanked Chinese President Xi Jinping for his country’s involvement in negotiating Ghana’s debt restructuring and for providing significant support for Ghana’s development. He cited a $30 m grant for the Aflao Market Project and another $30m allocated for the construction of a new Science and Technology University in Damango.
“We want to see a greater cooperation with China in terms of logistics, in terms of training to move on anti-terrorism, in terms of building surveillance of our borders to make sure that we don’t have any infiltration of these areas”, he added.
President Mahama suggested a payment and settlement system between the two countries.

Ambassador Tong congratulated President Mahama on the successes chalked up in the first year of his tenure, especially in turning the fortunes of Ghana’s economy. He called for strengthening cooperation between the two countries in industry, trade, mining, and science and technology.
Ambassador Tong noted that the China zero-tariff arrangement for Ghana’s exports would soon be operationalised. He appealed to President Mahama for Ghana’s support for China’s bid to host the Secretariat of the new United Nations treaty on Biodiversity Beyond National Jurisdiction.
General News
President Mahama Unveils Major Welfare, Equipment Boost for Ghana Armed Forces
President of the Republic and Commander-in-Chief of the Ghana Armed Forces, H.E. John Dramani Mahama, has announced a wide-ranging package of welfare improvements and major equipment acquisitions aimed at strengthening the operational capacity and morale of the Ghana Armed Forces.
The President made the announcement while addressing officers, soldiers, defence civilian staff, and invited guests at the West African Soldiers’ Social Activity (WASA), describing the measures as part of government’s commitment to building a modern, well-resourced military.
“The strength of any armed force lies in the professionalism, welfare, and motivation of its personnel,” President Mahama said. “As President and Commander-in-Chief, I remain firmly committed to ensuring that the Ghana Armed Forces are adequately resourced, well trained, and properly equipped to meet both current and future challenges.”
Major Equipment and Infrastructure Upgrades
President Mahama disclosed that government has begun a comprehensive retooling of all three services of the Armed Forces to enhance mobility, surveillance, and rapid response capabilities.
“As part of our modernisation drive, government is retooling all three services of the Armed Forces,” he stated.
He announced that a fleet of pick-up trucks, buses, and Land Cruisers has already been commissioned to improve operational efficiency, noting that this represents only the first phase of planned vehicle acquisitions.
According to the President, government is also moving ahead with plans to procure armoured personnel carriers, strategic drones, and advanced communication systems, as well as to establish Ghana’s first state-of-the-art Cyber and Electronic Warfare Centre at the Tamale Air Force Base.
“This centre will be responsible for maintaining surveillance of our borders and will also have the capacity to respond decisively in the event that our country comes under attack,” President Mahama explained.
Further equipment upgrades will include the acquisition of offshore patrol vessels for the Ghana Navy, four new Eurocopter helicopters for the Ghana Air Force, and a new executive jet to support executive travel and critical military logistics.
Forward Operating Bases and New Military Units
President Mahama also announced progress on the construction of Forward Operating Bases across the country, particularly in strategic areas.
“Two Forward Operating Bases in the northern part of the country are ready for commissioning, and adequate funding has been allocated in this year’s budget to complete four more before the end of the year,” he said.
He added that government has taken a strategic decision to establish two new military units in the Oti and Central Regions, in response to emerging security dynamics and the need to strengthen the national response framework.
Welfare Boost for Personnel
On welfare, President Mahama announced the implementation of a new salary structure for the Ghana Armed Forces, which will take effect in March, with arrears for January and February to be paid in the same month.
“I bring tidings of great joy,” he told the gathering. “Your new salary structure will start in March, and the arrears for January and February will also be paid in March.”
He also expressed support for the establishment of a Mutual Health Fund for service personnel and their families, announcing that seed funding for the initiative will be provided by the National Security Secretariat.
“The welfare of our personnel remains a top priority, and initiatives that improve healthcare access and financial security deserve our full support,” the President said.
Housing and Personnel Expansion
Addressing accommodation challenges within the Armed Forces, President Mahama acknowledged a housing deficit of about 14,000 units and welcomed a partnership between the Defence Industries Holding Company and FT Global to deliver 10,000 housing units over the next five years.
“Improving the living conditions of our officers and soldiers is essential to morale and operational effectiveness,” he noted.
He further announced that the ongoing recruitment exercise aims to increase the strength of the Ghana Armed Forces by 12,000 personnel over the next four years, to ensure sustainability and enhanced operational capacity.
Commitment to National and Regional Security
President Mahama concluded by reaffirming his administration’s determination to keep the Ghana Armed Forces professional, disciplined, and well-positioned to safeguard the nation.
“As Commander-in-Chief, I remain resolute in ensuring that the Ghana Armed Forces are fully resourced and positioned to serve Ghana, our sub-region, Africa, and the rest of the world with distinction,” he said.
The WASA event brought together senior military leadership, traditional and religious leaders, and other stakeholders to celebrate the service and sacrifices of the men and women of the Ghana Armed Forces.
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