Tender Process for Damang Mine ‘Progressing Well’ – Lands Minister

The government says it is making steady progress in the competitive tender process to select a new operator for the Damang Mine, as part of efforts to boost Ghanaian participation in the mining sector.

According to the Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, the ongoing process is transparent and designed to identify a company with the technical and financial capacity to manage the mine efficiently while ensuring long-term value for the state.

He emphasized that government is committed to increasing indigenous involvement in a sector historically dominated by foreign companies.

“The plan for this mine is to usher in Ghanaian expertise with the necessary technical and financial capacity as a springboard for empowering Ghanaians to take the commanding heights of the mining sector. We have triggered a competitive and transparent tender process to select the company with the capacity to run the mine,” he stated.

While noting that more work lies ahead, he maintained that the tender process remains on track and aligned with government’s broader objective of strengthening local ownership.

“I can tell you that the process of the tender is going very well. Our commitment to ensuring the right operator takes over this mine remains firm,” he added.

The Damang Mine holds an estimated 3.55 million ounces of gold resources, valued at a benchmark price of $2,300 per ounce a significant asset now transitioning into increased state oversight.

Government’s immediate operational roadmap spans 2026 to 2036, targeting approximately 1.85 million ounces of gold from around 391 million tonnes of material. Although the current strategy covers an 11-year period, officials say a full cutback option could extend the mine’s life to as much as 30 years, potentially generating even greater national revenue.