Latest news with #DamangMine
Zawya
29-05-2025
- Business
- Zawya
Goldfields Joins Mining in Motion as Bronze Sponsor
South African-based global mining firm Goldfields has confirmed its participation at the upcoming Mining in Motion Summit – Ghana's premier gathering for mining stakeholders, scheduled for June 2 – 4, 2025 in Accra – as a bronze sponsor. As one of the world's largest gold producers and a key player in Ghana's mining landscape, Gold Fields' involvement signals its deep commitment to the country's mining sector. Under the theme Sustainable Mining&Local Growth – Leveraging Resources for Global Growth, the summit brings together leading mining firms like Gold Fields, government officials and international stakeholders to shape the future of gold mining in Ghana. As a bronze sponsor, Gold Fields will engage in high-level panel discussions, exclusive networking sessions, and project showcases - demonstrating its long-term vision and alignment with Ghana's goal of using the mining sector as a driver of economic growth. In April 2025, Gold Fields received a 12-month renewal of its mining license for the Damang Mine, allowing the company to further invest in infill drilling aimed at extending the mine's operational life and production capacity. Gold Fields also operates the Tarkwa Mine - Africa's largest open-pit gold mine and a pillar of Ghana's gold sector - which produces over 551,000 ounces of gold annually. As the company targets a global production range of 2 to 3 million ounces per annum over the next decade, Ghana remains a central hub in achieving that ambition. Mining in Motion 2025 provides an invaluable platform for Gold Fields to deepen its engagement with Ghanaian government officials, forge new strategic partnerships, and strengthen existing relationships within the mining ecosystem. The firm's participation highlights its ongoing role in supporting Ghana's sustainable development, economic resilience, and leadership in global gold production. Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom – in collaboration with Ghana's Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana's Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders. Distributed by APO Group on behalf of Energy Capital&Power. For sponsorship opportunities or delegate participation, contact: Sales@ About Mining in Motion Summit: Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting
Reuters
16-04-2025
- Business
- Reuters
Ghana government takes control of Gold Fields' Damang mine, mines ministry says
ACCRA, April 16 (Reuters) - Ghana's government has assumed operational control of Gold Fields' (GFIJ.J), opens new tab Damang mine after it rejected an application from the South African company to renew its lease, the mines ministry said on Wednesday. The Johannesburg-based miner said on Monday that it had unsuccessfully applied to extend the Damang lease, which is due to expire on April 18, and was winding down operations as a result. It was only processing stockpiles at Damang after ceasing mining operations in 2023, although it had committed to exit the operation in an orderly way as part of its end-of-life plan. "The Damang Mine's return to state oversight marks a critical step in Ghana's economic reset, ensuring its gold reserves directly benefit citizens," the mines ministry said in a statement. It said the decision aligned with policy moves to stop the "neo-colonial" automatic renewal of mining licenses in gold-producing Ghana, but reassessing in order to maximise national benefit. "We are on the lookout for value propositions on the utilisation of our mineral resources that align with the same," the ministry added. Damang is the smaller of Gold Fields' two mines in Ghana after Tarkwa, the biggest open pit gold mine in the country. Damang produced 135,000 ounces of gold in 2024, about 6% of the group's total output of 2.15 million ounces. The company has been weighing selling its smaller operations - including Damang and the Cerro Corona mine in Peru, which has less than five years left on its lifespan - as it focuses on its newly commissioned Salares Norte mine in Chile and the Windfall project in Canada.
