… The government revamped the programme in February, targeting up to 157 tons (15 months of import cover) by 2028, and launched negotiations with miners, including Newmont, Gold Fields, and China’s Zijin (601899.SS), to increase purchases. …
On May 13, 2026, the Institute of Economic Affairs (IEA) urged the Government of Ghana not to renew Gold Fields’ mining lease in Tarkwa, arguing that the concession should instead be granted to a local owner. …
The government is considering the option of transferring the control of Gold Fields Tarkwa Mine to local firms when the current lease expires in April 2027. …
The Ghana First Alliance, a movement, is today staging a protest in Accra against the renewal of the mining licence of Gold Fields, a mining company owned by a South African citizen operating in Ghana. …
… Attakumah was elected at the Chamber’s 98th Annual General Meeting (AGM), where he succeeded Mr Michael Edem Akafia, Vice President for External Affairs at Gold Fields, who completed a two-year term marked by major policy engagements and developments within the mining sector. …
… He cited major companies such as MTN, Stanbic Bank and Gold Fields, among others, as examples of businesses that have contributed substantially to employment creation and government revenue. …
… Look at the investment South Africans have in Ghana, MTN, Stanbic Bank, a lot of investment, Gold Fields, and other companies, and what they’ve brought into this country in terms of jobs, in terms of revenue,” he said. …
… By Elvis MENSAH The ongoing debate over the renewal of Gold Fields Tarkwa mining lease must not be treated merely as a legal, political, or mineral-rights matter. …
… The assurance comes amid growing public debate over the future ownership of key mining assets, particularly the renewal of Gold Fields’ mining lease for the Tarkwa Mine. …
Government has agreed with large-scale mining companies to purchase 30% of their gold output starting July 1 to boost foreign currency reserves and develop local refining capacity. Gold will be sold to state entity GoldBod in dore form at a 0.55% discount to the central bank's reference rate and settled in Ghanaian cedis.
Why it matters
Government's agreement to purchase 30% of large miners' gold output from July 1 will boost foreign currency reserves and develop local refining capacity.
Government has agreed with large-scale mining companies to purchase 30% of their gold output starting July 1 to boost foreign currency reserves and develop local refining capacity. Gold will be sold to state entity GoldBod in dore form at a 0.55% discount to the central bank's reference rate and settled in Ghanaian cedis.
The government is considering transferring control of Gold Fields Tarkwa Mine to local firms when the current lease expires in April 2027, according to Bloomberg sources. The potential transfer is part of efforts to increase government ownership of the gold industry, with any handover to be evaluated on environmental rehabilitation, local employment, and infrastructure development commitments.
The Ghana First Alliance staged a protest in Accra demanding the government not renew the mining licence of Gold Fields, a South African-owned mining company. The demonstration, linked to recent xenophobic attacks in South Africa against Ghanaian businesses, calls for the contract to be terminated and mining concessions handed to Ghanaian operators.
Ing. Frederick Attakumah, Executive Vice President of Asante Gold Corporation, has been elected President of the Ghana Chamber of Mines at its 98th Annual General Meeting. He pledged to increase gold production, deepen local value creation, and strengthen sustainable mining practices through stakeholder collaboration.
The Parliamentary Minority has warned the government against allowing tensions involving Ghanaians in South Africa to damage bilateral relations, calling for the Foreign Minister to brief Parliament on recent evacuations and the situation affecting an estimated 25,000 to 30,000 Ghanaians in that country.
Ghana's Parliamentary Minority has called for an immediate briefing from the Foreign Affairs Minister on a government-sponsored evacuation of Ghanaian nationals from South Africa following xenophobic attacks. The Minority argues Parliament must be fully informed to prevent misinformation and ensure coordinated diplomatic response, noting Ghana's estimated 25,000–30,000 nationals in South Africa and long-standing economic ties with the country.
The Gold Fields Tarkwa mining lease renewal debate extends beyond mineral rights to a question of employment, community livelihoods, and national development. The operation supports over 4,700 direct employees and contractors, alongside thousands in surrounding economic networks, making the decision critical to worker protection, livelihood preservation, and Ghana's investment reputation.
The Ghana Investment Promotion Centre reaffirmed Ghana's commitment to attracting foreign investment in mining, saying discussions about increasing local participation should not be misread as opposition to foreign direct investment. The assurance comes amid debate over mining lease renewals, including Gold Fields' Tarkwa Mine lease expiring in 2027, with GIPC noting Ghana's mining tradition has developed capable indigenous businesses ready to take greater responsibility in the sector.
Former Parliamentary Energy and Mines Committee Chair Dr Kwabena Donkor has proposed that Ghana's state retain ownership of mining assets while contracting indigenous companies to conduct operations, arguing the country now possesses the technical expertise and managerial capacity to retain a larger share of mineral wealth benefits. He advocates reviving the State Gold Mining Corporation as a lean asset-holding entity rather than an operator.
Finance Minister Dr. Ato Forson has expressed concern about mining companies pressuring the government to renew mining leases and then immediately selling them to other investors. He cited Newmont's sale of its Akyem Gold Mine Project to Zijin Mining Group for US$1 billion a month after securing a lease extension, saying such practices should not be encouraged as they undermine mutual trust.
Policy analyst Dr Steve Manteaw supports efforts to increase Ghanaian participation in mining, arguing that countries that derive the greatest value from natural resources actively participate in extraction. He points to public concern that Ghana is not receiving enough benefits from its mineral wealth, a sentiment reflected in debate over Gold Fields' Tarkwa mining lease renewal.
Dr Steve Manteaw attributes fierce public interest in Gold Fields' Tarkwa mining lease renewal to a widespread perception that Ghana is not receiving enough value from its mineral resources and wants greater benefits retained domestically. He notes that public frustration has been fuelled by claims that Ghana retains only a small fraction of value from mining, though he describes such figures as inaccurate.
Policy analyst Steve Manteaw cautioned against using public sentiment as the sole basis for handing mines to Ghanaians, noting that while widespread perception suggests Ghana retains only about five per cent of mining sector value, such figures are inaccurate and policy should be guided by sound analysis rather than emotion.
Ishmael Yamson & Associates formally launched the Ishmael Yamson Foundation at the 12th Business Roundtable held in Accra, positioning it as a vehicle for generational strategy and leadership development of young African talent. The event, themed on Africa's digital infrastructure, trade, energy, and governance, convened more than 400 participants including government officials, industry leaders, and development partners.
The government will submit the Damang Gold Mine lease agreement to parliament for ratification following its takeover by Engineers and Planners after Gold Fields' lease expired. The Lands and Natural Resources Minister said suspending operations pending ratification was not viable given the thousands of jobs and economic activities linked to the mine.
Gold Fields says it has invested approximately US$5 billion in Ghana over 30 years and that more than 70 per cent of revenue from its operations remains in-country. The company announced plans for more than US$1 billion in fresh capital investment over the next three to four years, amid ongoing debate over mining lease renewals and resource nationalism.
The President of the National Union of Ghana Students has warned of sustained student-led action if government renews Gold Fields' mining lease at Tarkwa, arguing that national resources should prioritize local participation and that Ghana has capable local investors who could benefit from the sector.
An open letter to Ghana's President criticizes the continued economic presence of South African companies like MTN and Gold Fields in Ghana while Ghanaian nationals face attacks and losses in South Africa, calling for greater accountability and responsibility from these firms.
Ernesto Yeboah, leader of the Economic Fighters League, has cautioned Ghanaians against retaliatory action targeting South African businesses or citizens in Ghana following afrophobic attacks against Ghanaians in South Africa. He warned that such retaliation would damage Ghana's international reputation and called on police to prevent harassment of South African-owned businesses.
A citizen has filed a petition with CHRAJ demanding an investigation into President John Mahama over conflict-of-interest allegations related to the takeover of the Damang Mine by the President's brother, Ibrahim Mahama, whose firm E&P received the concession from Gold Fields in April 2026. The petitioner invokes constitutional articles barring public officers from placing themselves in situations of personal interest conflict.
An opinion piece argues that the Institute of Economic Affairs' call for Ghana to deny Gold Fields' mining lease renewal in favour of local ownership overlooks the company's consistent tax and environmental compliance and Ghana's need to maintain investment-friendly frameworks for attracting foreign capital.
An opinion piece argues that while Ghana has technical expertise to operate the Tarkwa Mine independently, the country must cautiously evaluate whether it possesses the broader institutional and financial capacity to sustain a world-class large-scale mining operation, given the complex global systems involved in modern multinational mining.
The Ghana Chamber of Mines has defended Gold Fields' application to extend its Tarkwa mining lease, accusing the Institute of Economic Affairs of advancing "material factual inaccuracies" and warning that rejecting the renewal could weaken investor confidence and Ghana's competitive standing in mining.
Emmanuel Armah-Kofi Buah, the Minister for Lands and Natural Resources, promoted Ghana to global mining companies at the United Nations Forum on Forests in New York, highlighting the country's mineral deposits, political stability, and legal frameworks. Ghana has attracted over $20 billion in mining investments over the past two decades and remains Africa's leading gold producer.
The Institute of Economic Affairs has called on the government to reject Gold Fields' application for a 20-year lease extension of the Tarkwa Mine, arguing Ghana should reclaim ownership of the asset. The Ghana Chamber of Mines, however, warned that public pressure over the renewal risks damaging legal certainty and Ghana's reputation as a mining investment destination.
The Ghana Chamber of Mines has stressed the need for regulatory certainty and procedural fairness in mining enforcement, citing concerns over developments affecting Gold Fields' Tarkwa operations. The Chamber warned that uncertainty surrounding major mining operations could harm employment, host communities, and Ghana's attractiveness to international investors.
Davis Opoku Ansah, MP for Mpraeso, has urged Ghana to secure greater economic benefit from its mineral resources, arguing that successive governments have failed to maximise value from the nation's mineral wealth despite abundant resources. He cited mining communities like Tarkwa and Obuasi as examples of areas that continue to struggle with poor infrastructure and limited social amenities despite years of mining activity.
The Institute of Economic Affairs has opposed the renewal of Gold Fields' mining lease for Tarkwa, which expires in 2027, arguing that the decision would be harmful to Ghana's long-term interests and calling instead for a framework ensuring greater Ghanaian ownership. Gold Fields has applied for a 20-year extension and notes its Ghana operations account for about 25 per cent of the company's global gold output.
The Institute of Economic Affairs has called on the government to decisively reject a proposed 20-year extension of Gold Fields' current Tarkwa mining lease, which expires in April 2027, arguing the renewal is inimical to Ghana's long-term economic and strategic interests and urging a framework that secures meaningful Ghanaian ownership and control of the mine.