The handover ceremony took place at the mine site on Saturday, April 18, 2026, where the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, performed the symbolic transfer.

Speaking after the ceremony, the Chief Executive Officer of Engineers and Planners, Ibrahim Mahama, highlighted his three-decade association with the Damang Mine and pledged major investments to benefit surrounding communities.

“I would say that, look, if we all put our minds together, this is a success story. And the plan I have for Damang Mine is not a joke. I just want to prove that we can invest in ourselves in this country,” he said.

Mr Mahama also outlined ambitious infrastructure plans, including the construction of a concrete road linking Damang to Cape Coast within two years and the development of an airport within six months.

He said the projects are intended to drive economic growth and demonstrate the capacity of local companies to manage large-scale mining operations.

Background to the takeover

The transition follows the expiration of the Damang Mine lease previously held by Gold Fields Ghana Limited, which had operated the mine for more than two decades. The lease originally expired in April 2025, but the government granted a one-year extension to allow for an orderly transition process ahead of the final handover in April 2026.

As part of the transition, the Government of Ghana opted not to renew Gold Fields’ lease and instead initiated a competitive tender process to identify a new operator, in line with efforts to increase local participation in the mining sector.

The Minerals Commission supervised the bidding process under the Minerals and Mining (Licensing) Regulations, 2012 (LI 2176). Four companies submitted bids before the March 31, 2026, deadline, with Engineers and Planners Limited emerging as the successful bidder after meeting technical, financial and regulatory requirements.

Authorities indicated that bidders were required to demonstrate strong financial capacity, including access to funding of at least $500 million, as well as technical expertise and operational readiness. Engineers and Planners satisfied these requirements and secured the highest evaluation score.

The Damang Mine, located in Ghana’s Western Region, is one of the country’s major gold-producing assets and has played a significant role in the national mining industry for decades.

Government officials have said the tender process and eventual handover are intended to sustain operations, protect jobs and strengthen local ownership in Ghana’s mining sector.

In a press release dated April 7, 2026, the Ministry disclosed that it had received the Committee’s report in line with the Minerals and Mining (Licensing) Regulations, 2012 (LI 2176). Based on the evaluation, Engineers and Planners Ltd (E&P) emerged as the successful bidder.

The Ministry stated that the recommendation has been approved, with directives issued to the Minerals Commission to take the necessary regulatory steps to implement the decision.

According to the report, E&P met all mandatory requirements outlined in the tender notice, including providing evidence of access to financing above the minimum threshold of 500 million US dollars. The company was also found to possess the technical expertise and operational experience required for the Damang mine, alongside proposals aimed at extending the mine’s lifespan beyond ten years.

The Tender Committee further indicated that E&P achieved the highest score based on the evaluation criteria, demonstrating the strongest capacity to manage the operations effectively.

A total of four companies submitted bids before the March 31, 2026 deadline. These included Vortex Resources Mining Group, Engineers and Planners Ltd, Heath Goldfields Ltd, and Maripoma Mining Services Ltd.

The four tenders were then examined in accordance with the mandatory requirements set out in Phase 1, Annexure C of the Notice, which states that if any tenderer fails to comply with any of the mandatory requirements, it “shall result in the tender being disqualified and not to be considered for further evaluation.”

The mandatory requirements are:

• Proof of wholly owned Ghanaian registered company with registration documents indicating current directors, shareholdings and beneficial ownership
• Valid tax clearance certificate
• Valid SSNIT clearance certificate
• Valid VAT clearance certificate
• Valid certificate of incorporation
• Payment of the application fee of GHS100,000.00

Following verification, only Engineers and Planners Ltd and Heath Goldfields Ltd met the mandatory requirements; Maripoma Mining Services Ltd and Vortex Resources Mining Group were disqualified as non-responsive for failing to submit the required documents.

Accordingly, pursuant to Regulation 260(7) of LI 2176, the two (2) responsive tenders were submitted to the Tender Committee for technical and financial evaluation. Following the technical assessment, Heath Goldfields Ltd failed to achieve the minimum qualifying score of 80%, and its financial proposal was therefore not evaluated, in line with the Notice.

The Minerals Commission has also accordingly directed to take all the necessary regulatory steps to give effect to this approval.

Meanwhile, the Ministry has commended the Commission, particularly the members of the Tender Committee, for their dedication to this critical national assignment, and reiterates Government’s commitment to the Damang Mine’s continued contribution to Ghana’s economy.

The Ministry further reiterated its commitment to ensuring transparency and due process in the award of mining leases, while supporting continued investment and sustainability in Ghana’s mining sector.

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Speaking in an interview on Joy FM’s Top Story, Mr Stephenson noted that the decision—granted barely two hours after a Tender Committee submitted its recommendations—was unusually swift and could raise transparency concerns.

“In two hours, that is a little too quick and may give cause for worry,” he said.

Mr Stephenson argued that Ghana’s mineral licensing process typically involves multiple layers of oversight, including technical committees, procurement bodies and ministerial approval. He described the post-recommendation phase as a “black box” and stressed the need for public access to assessment data to enhance accountability.

“We would like to see that the results of this work—the assessment—are published, not just the decision of the minister,” he said.

Meanwhile, the Ministry of Lands and Natural Resources stated that Engineers and Planners Ltd. was awarded the Damang mining lease following what it described as a rigorous and competitive tender process.

According to the Ministry, the Tender Committee, established under the Minerals and Mining (Licensing) Regulations, recommended Engineers and Planners Ltd. as the top bidder based on technical capacity, financing and proposals to extend the mine’s lifespan.

Out of four companies that submitted bids, only Engineers and Planners Ltd. and one other met the mandatory requirements, while the remaining bidders were disqualified or failed the technical evaluation.

The Ministry further directed the Minerals Commission to complete all regulatory processes to formalise the lease and reaffirmed its commitment to ensuring that the Damang mine continues to contribute significantly to Ghana’s economy.

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This landmark deal is set to finance E&P’s purchase of the Black Volta Gold Project—a move that positions the company at the forefront of indigenous participation in Ghana’s lucrative extractive industry. It also marks the development of the nation’s first large-scale, wholly Ghanaian-owned gold mining operation.

The signing ceremony, held in Accra, was imbued with a sense of historic significance, signalling a conscious shift towards greater local control over Ghana’s rich mineral resources.

Ghana, a leading gold producer in Africa, has historically seen its large-scale mining operations dominated by foreign entities. This agreement, therefore, represents a crucial step in repatriating wealth and fostering domestic industrialisation.

Speaking at the event, prominent Ghanaian business leader Sir Sam Jonah directly addressed and vehemently dismissed any suggestions that E&P’s acquisition of the Black Volta Gold Project was driven by political favouritism.

According to Sir Jonah, the deal is unequivocally a “merit-based and commercially viable transaction,” reflecting what he described as a long-overdue transformation in Ghana’s mining sector.

He emphasised that the agreement stands as a legitimate business move, distinct from any politically influenced arrangement, and should be viewed as part of a broader national effort to empower Ghanaian-owned companies in the extractive industry.

“Let us be clear: this is not a favour. This is not political patronage. This is not crony capitalism,” Sir Jonah declared, underscoring the transparency and legitimate nature of the transaction.

He described the occasion as both “historic” and a “turning point” in Ghana’s decades-long relationship with its mining industry. He lauded the deal as a testament to what can be achieved when indigenous vision meets determined execution.

“Today, we are not merely here to witness the signing of a facility agreement. We are here to celebrate a milestone, affirm a vision, and embrace a bold new chapter in Ghana’s economic story—led not by foreign interests, but by our own,” he proclaimed, painting a vivid picture of a future where Ghana’s economic narrative is increasingly shaped by its own citizens.

To further reinforce the integrity of the acquisition, Sir Jonah highlighted that the deal was quietly signed in October 2023 “with no fanfare, no interference, and no backroom dealing.”

This understated approach, he argued, solidifies the project’s success as being grounded in “merit, backed by a strong balance sheet, and grounded in solid business fundamentals.”

This deliberate transparency aims to differentiate the Black Volta Gold Project from past resource deals that have sometimes attracted scrutiny for opaque processes.

The Black Volta Gold Project is situated in an area historically known for its gold deposits, and its development under Ghanaian ownership is expected to create significant local employment opportunities and enhance revenue streams for the state.

Source: Myjoyonline.com