Business mogul and Chief Executive Officer of Engineers and Planners, Ibrahim Mahama, has expressed gratitude to former President Nana Addo Dankwa Akufo-Addo for his role in facilitating the company’s takeover of the Damang Mine concession in the Western Region.
Speaking at the official takeover ceremony held at Damang in the Western Region on Saturday, April 18, 2026, Mr Mahama reflected on the long process leading to the transition of the mine from Gold Fields Ghana Limited to Engineers and Planners, describing it as the result of years of engagement with stakeholders, including the government.
According to him, the transition began after Gold Fields signalled its intention to wind down operations in 2022, and discussions were initiated for a structured handover process.
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.
Mr Mahama explained that following the intervention, the government facilitated discussions that eventually led to the agreement for the mine to be transferred through the appropriate regulatory and licensing processes.
He said the outcome was not merely a commercial arrangement, but part of a broader effort to demonstrate Ghanaian capacity in large-scale mining operations.
“So I engaged the government and told them that mining is not just buying equipment and working in there. It is the key people that you need to put together,” he stated.
Mr Mahama also disclosed that Engineers and Planners undertook detailed technical and financial assessments before securing the concession, including a bankable study and financing arrangements with international and local banks.
“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.
He added that the company’s long-term vision for the Damang Mine includes major infrastructure development aimed at transforming surrounding communities.
“We’ve applied for that mine to have an airport. And that mine, within six months, 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.”
Mr Mahama further pledged that revenues from the mine would be reinvested locally to support social and economic development, including the construction of hospitals and sports infrastructure.
“What I want to say is that whatever money we make from here, we will reinvest it here,” he said, adding that he also intends to build his personal residence in the area as a sign of long-term commitment to the community.
The Damang Mine takeover marks a significant shift in Ghana’s mining sector, following a competitive bidding process after the expiration of Gold Fields’ lease, with Engineers and Planners emerging as the successful bidder under government supervision.
