The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has stated that the government's takeover of the Damang Mine on Saturday, April 19, 2025, signifies a departure from the era of automatic mining lease renewals.

He added that the period in which less-developed countries were controlled by developed nations through indirect means has come to an end.

In a press release sighted by GhanaWeb Business, the Minister of Lands explained that the takeover is in accordance with Section 23 of the Minerals and Mining Act, 2006 (Act 703).

The Act represents a significant shift in Ghana’s natural resource management approach, prioritising national interest and transparency over automatic lease renewals.

The Minister further noted that the takeover underscores the government’s commitment to ensuring uninterrupted operations and safeguarding jobs.

“In light of the aforementioned, and in the national interest, under Article 257(6) of the 1992 Constitution, the State shall assume oversight and operational responsibility for the Damang Mine effective April 19, 2025. Fundamental to this decision is the government’s commitment to maintaining uninterrupted operations, protecting jobs, honoring existing valid service contracts, ensuring compliance with legal and fiscal obligations, and securing Ghana’s rightful benefits from this critical resource,” Armah-Kofi Buah stated.

He emphasised: “The Damang Mine’s return to state oversight marks a critical step in Ghana’s economic reset, ensuring its gold reserves directly benefit citizens and drive long-term prosperity.”

“This decision aligns with the government's policy shift away from the neo-colonial stance of automatic license renewals for mining in Ghana, focusing instead on a thorough reassessment of mining licenses to ensure optimal national benefits. With that said, we are on the lookout for value propositions on the utilisation of our mineral resources that align with this vision,” the Lands Minister affirmed.

The decision not to renew the mining lease follows the expiration of the current 30-year lease, which was originally granted on April 18, 1995, and expires on April 18, 2025.

The government has stated that this move is in line with its broader mission to transform the nation’s economic landscape.

SA/MA

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