Parliament
Parliament has ratified a mining lease agreement between the Government of Ghana and Abosso Gold Fields Limited, granting the company the legal mandate to continue gold mining operations in Damang, located in the Wassa West District of the Western Region.
The new lease, which takes effect following the expiration of the previous agreement on April 18, 2025, will run until April 2026. It includes a strict clause prohibiting any further extensions, transfers, mortgages, or similar transactions beyond that date.
Although the government initially intended to assume full control of operations after the original lease expired, it later agreed—following further consultations—to grant a one-year extension under clearly defined, non-renewable terms.
The lease agreement was among five mining contracts approved by Parliament following the adoption of the Mines and Natural Resources Committee’s report, presented by its Chairman, Mr. Collins Dauda.
The agreement aligns with Article 268 of the 1992 Constitution and Section 54 of the Minerals and Mining Act, 2006 (Act 703), which require parliamentary ratification for such transactions involving the exploitation of the country’s natural resources.
Abosso Goldfields, a subsidiary of Gold Fields Ghana, has been a key player in Ghana’s gold sector, and the ratification ensures continued operations at Damang with full legal backing. The renewed lease is expected to bolster local job creation, enhance revenue to the state, and deepen community investment initiatives in the host district.
Minister for Lands and Natural Resources, Mr. Emmanuel Armah-Kofi Buah, commended the ratification process, noting that the mining agreements would accrue substantial financial benefits to the country and support the transfer of expertise and technology to Ghanaians.
Other mining companies whose lease agreements were also ratified include Newmont Golden Ridge Limited at Akyem East and West in the Eastern Region, Gateway Exploration Limited at Obobetwaho, and GBF Associate Ghana Limited at Ntotoroso in the Ahafo Region.
The approval forms part of ongoing efforts by government to ensure transparency, legal compliance, and accountability in Ghana’s natural resource governance.
