Business mogul and Chief Executive Officer of Engineers and Planners, Ibrahim Mahama, has clarified that his company did not unilaterally seek to acquire the Damang Mine in the Western Region, stressing that the opportunity was initiated by Gold Fields Ghana Limited as part of its planned exit from the concession.
Speaking at the official takeover ceremony of the Damang Mine in the Western Region on Saturday, April 18, 2026, Mr Mahama explained that the transition was the outcome of structured negotiations rather than a sudden ambition to own the mine.
“Point of correction, I didn’t just spring up to say I want to own that mine. Gold Fields said in 2022, ” We’re going to close the mine, and we want you to take over,” he stated.
He noted that while discussions initially involved a possible sale arrangement, the process evolved into broader negotiations involving government, regulatory approvals, and technical assessments to ensure continuity of operations.
“Gold Fields said they were going to close the mine and wanted me to take over, but they would sell it to me. And I said, you can’t sell it to me because you’ve cheated me all these years. So you have to give it to me. So we agreed,” he explained.
Mr Mahama further revealed that he was required to obtain a no-objection letter from the government as part of the process, which facilitated formal engagement between all parties.
“They told me to go to the government and get a no-objection letter. I went in there, and I must thank our former President. He gave me a document to sit with Gold Fields and negotiate and keep the mine going,” he said.
He emphasised that the takeover was not driven by personal ambition alone, but by a broader national objective of ensuring Ghanaian participation in large-scale mining operations and sustaining jobs and production at the Damang Mine.
According to him, Engineers and Planners conducted detailed feasibility and financial assessments before committing to the project, including a bankable study and securing major financing commitments from lenders.
“We did a bankable study. We looked at it and noticed that we could do it. We approached a few of the banks in here. One has given us $650 million, another $600 million,” he noted.
Mr Mahama added that the company’s vision for the mine goes beyond extraction, with plans for major infrastructure development, including roads, hospitals, sports facilities, and an airport to improve connectivity and stimulate economic growth in surrounding communities.
“We’ve applied for that mine to have an airport. And within six months, Damang will have an airport such that we can fly to Accra easily from there,” he said.
“In the next two years, we’ll be able to drive from here to Cape Coast on a concrete road or an asphalt road. This is not political talk, this is real talk.”
The Damang Mine has officially transitioned from Gold Fields Ghana Limited to Engineers and Planners following a competitive bidding process supervised by government authorities after the expiry of the previous lease agreement.
He expressed gratitude to former President Nana Addo Dankwa Akufo-Addo for his role in facilitating the company’s takeover of the Damang Mine concession.
He revealed that government intervention was key in enabling negotiations between the parties, noting that former President Akufo-Addo played a decisive role in the process.
“I went there, and I must thank our former President. He gave me a document to sit with Gold Fields, negotiate, and keep the mine going,” he said.
