Africa: Governments Push for Increased Local Control of Africa's Gold

Africa: Governments Push for Increased Local Control of Africa's Gold

Gold Fields Ltd.'s Damang mine in Ghana is at the center of a policy shift as the government moves to increase local ownership in the gold sector. The state will take over the mine on April 18 after declining to renew its lease, Bloomberg reported. Authorities have limited the tender process to companies fully owned by Ghanaian citizens, aiming to prevent foreign bidders from dominating the sale.

Ghana hands major gold mine to local operator

Ghana handed control of a gold mine to Engineers & Planners, the company owned by the brother of President John Dramani Mahama, placing a major industrial asset in domestic hands for the first time in the country’s modern mining industry.The handover marks the end of Gold Fields’ long tenure at Damang, a mine the South African company had operated since the 1990s, and adds Damang to Ibrahim Mahama’s growing portfolio across mining and constructi…

Minerals Commission Rejects Favouritism Claims Over Damang Mine Award

NewsGhana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/minerals-commission-rejects-favouritism-claims-over-damang-mine-award/The Minerals Commission has pushed back firmly against allegations of bias in the award of the Damang Mining Lease to Engineers and Planners Limited (E&P), describing the tender process as transparent, competitive, and fully grounded in Ghana’s mining regulations. The lease award, an…

Engineers and Planners Ltd emerges top bidder for Damang Mine lease

By: Benjamin Nii Nai Anyetei  Engineers and Planners Limited has emerged as the highest evaluated bidder for the Damang Gold Mine lease, following a competitive tender process supervised by the Minerals Commission. The recommendation by the Tender Committee comes after a rigorous evaluation under Regulation 258 of the Minerals and Mining (Licensing Regulations), 2012 (LI 2176), aimed at identifying a strategic investor to take over operations of…

Ghana picks E&P to run Damang gold mine

GHANA has awarded the Damang gold mine to local mining services company Engineers & Planners Ltd (E&P), said Reuters citing mines minister Emmanuel Armah-Kofi Buah on Tuesday. The Minerals Commission recommended E&P as the preferred bidder following a competitive tender process that began after Ghana declined to renew Gold Fields’ operating lease last year. Instead of an automatic extension, Ghana’s authorities invited local bids for what could …

Government awards Damang mining lease to Ibrahim Mahama’s Engineers and Planners Ltd

The Ghanaian government has awarded the Damang Mining Lease to Ibrahim Mahama’s Engineers and Planners Ltd following a competitive tender. The Minerals Commission report confirmed E&P met all requirements and secured the highest score among four bidders, ensuring continued contribution to Ghana’s mining sector. Engineers & Planners Company Ltd (E&P) The Damang gold mine: Ghana’s strategic asset at the centre of ownership controversy Emmanuel A…