Business mogul and Chief Executive Officer of Engineers and Planners, Ibrahim Mahama, has reflected on his company’s takeover of the Damang Mine in the Western region, stressing that after decades in the mining sector as contractors, it was time for Ghanaian firms to transition into mine ownership and operation.
Speaking at the official handover ceremony of the Damang Mine in the Western Region on Saturday, April 18, 2026, Mr Mahama said his motivation was driven by long-standing experience in the mining value chain and a desire to move beyond subcontracting roles.
“So many of the other people are from Ranger. But after 30 years, I asked myself that look, can we just still be contractors? We can’t do that,” he said.
He explained that the decision was not abrupt, but the result of years of industry involvement and reflection on Ghana’s limited participation in direct mine ownership and control.
“After 30 years, I just said to myself that listen, Gold Fields offered this mine to me,” he noted.
Mr Mahama clarified that the Damang transition was initiated through structured engagement with Gold Fields Ghana Limited, which had indicated plans to wind down operations at the mine.
“Gold Fields said in 2022, we’re going to close the mine, and we want you to take over, but we’ll sell it to you,” he stated, adding that discussions eventually evolved into a broader agreement involving government approval and regulatory processes.
He further disclosed that the government played a key role in facilitating negotiations, including the issuance of a no-objection framework that allowed discussions between Engineers and Planners and Gold Fields to proceed.
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.
“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.
Mr Mahama said the transition reflects a broader ambition to demonstrate that Ghanaian companies are capable of managing large-scale mining operations independently, supported by technical expertise and strong financial backing.
According to him, Engineers and Planners conducted a detailed bankable study and secured financing commitments from local and international banks to support the acquisition and future development of the mine.
The Damang Mine handover marks a significant shift in Ghana’s mining sector, following a competitive bidding process supervised by the government after the expiry of the previous lease held by Gold Fields Ghana Limited.
