The Minerals Commission of Ghana has issued an ultimatum for Johannesburg-based mining company, Gold Fields Limited to exit the leased concession.
It comes after the Commission rejected the company’s application for the extension of the Damang Main Mining Lease.
The company applied for an extension in December 2024, hoping for a positive result.
However, it issued a statement on April 14, 2025, announcing its application had been denied.
“Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) disclosed in our 2024 Integrated Annual Report that we had applied for an extension of the Damang Main Mining Lease (the Lease Extension Application) in December 2024, the Company has subsequently however received notification from the Minerals Commission of Ghana that the application was rejected.”
The Commission has since given it until April 18 to exit the field on expiry of the lease.
“Gold Fields is therefore preparing to safely and responsibly cease operations and ensure the safety and security of our people and high-risk operations.”
Meanwhile, the Company said it is seeking an engagement with the Government to secure the best outcome for all stakeholders.
“These developments at Damang do not affect operations at Tarkwa, which remain ongoing. Gold Fields will update the market of any material developments as this matter evolves.”
Source | Opemsuo.com
