A recent press statement by the Ministry of Lands and Natural Resources announced the outcome of the tendering process for the Damang Mine takeover. It was clear from the onset that the state was keen on an indigenous takeover of the mine. Engineers and Planners Company Limited’s bid, according to the Ministry, has been upheld, and the Ghanaian company will subsequently own the mine.

For decades, E&P has worked as both a subcontractor and contractor at the Damang Mine, owned by Gold Fields Limited. Their operations include excavation and loading of material, as well as the haulage of ore and waste, equipment operation, and fleet management, among other activities. The company has a strong track record of delivering these services not only at the Damang Mine site but also at the Tarkwa Mine site, which is also owned by Gold Fields.

E&P was essentially running the mine—just without ownership or high-level administrative control. It therefore comes as no surprise that the opportunity has fallen to E&P as the incoming owner of the Damang Mine.

This development represents a major win, as Ghanaians have long called for the localization of the mining sector. Having worked alongside foreign mining companies for years, local Ghanaian firms can be deemed capable of managing mining operations in the country according to global standards, and E&P’s takeover is a strong indication of this shift.

Localising the mining sector means higher value retention within Ghana. The economy transitions from an extraction-based model to a retention-driven one. This shift promotes greater capital circulation and reinvestment. Under foreign ownership, a significant portion of profits is repatriated abroad. However, with increased local participation, profits are more likely to remain within the country, circulate, and be reinvested in the local economy.

Even more significant is the job creation potential that comes with this localisation drive. More Ghanaians are likely to be employed, and local expertise will be increasingly utilized—reducing the heavy reliance on expatriate labor often associated with foreign mining companies.

Goods and services will also be sourced locally. Across the supply chain, from safety boot manufacturing to catering and other essential services, the mine is expected to create increased opportunities for local suppliers and businesses.

Additionally, this takeover sends a strong signal that indigenous firms can move beyond subcontracting into full mine ownership. For contractors in the mining industry, such as Pamicor Limited and Rabotec Group, it demonstrates that with the right technical track record and financial backing, transitioning from service provision to asset ownership is achievable. This can boost industry-wide confidence, encourage local firms to scale up their operations, invest in capacity, and position themselves competitively for future mining concessions or partnerships.

E&P’s takeover of the Damang mine is a significant step towards localisation of mine ownership in Ghana. With this step initiated, we have hopes that this giant stride will, at some point, grow into large-scale refining of Ghana’s own gold.