Ing. Wisdom Edem Gomashie’s call for transparency in the rejection of Gold Fields’ Damang mine lease renewal has sparked interest in the mining sector. Gomashie, a mining consultant, is seeking clarity on the specific provisions of the Minerals and Mining (Licensing) Regulations, 2012 (LI 2176), that led to the rejection. He believes that the decision sends a wrong signal to the investor community and stakeholders, potentially impacting Ghana’s economy.
Gold Fields contributes about 60% of Ghana’s gold output, making this decision potentially impactful on the country’s economy.
The Damang mine is approaching the end of its life, with processing of surface stockpiles expected to continue until 2025 before depletion. A detailed mine closure plan is set to be finalized in 2024.
Gomashie expresses concerns about transparency and the potential economic implications of this decision on Ghana’s mining sector, urging the government to provide clarity to maintain investor confidence and ensure economic stability.
The mining sector is likely watching this situation closely, as clarity on the decision could impact investor confidence and the overall stability of Ghana’s mining industry.
The government’s response to Gomashie’s concerns will be crucial in determining the future of the mining sector in Ghana. Providing transparency on the decision-making process could help alleviate concerns and maintain investor confidence.
Story by: Ohemaa Adusi-Poku
