The University of Mines and Technology (UMaT), Tarkwa, has submitted a comprehensive valuation report on the fixed assets of Damang Gold Mine Limited (DGML) to the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah.
The report, presented on Thursday(October 29), is expected to provide a basis for determining the annual rent payable under a proposed 20-year operating lease for the mine, as well as establishing its associated liabilities.
The assessment was commissioned by the Minerals Commission following the reversion of Damang Gold Mine’s mining lease to the Government of Ghana and the subsequent transition to DGML.
UMaT conducted an assessment of the mine’s movable and immovable assets, including their condition, to establish an appropriate rental valuation and determine the liabilities associated with the assets.
The report was formally presented by UMaT Vice-Chancellor, Prof. Bernard Kumi Boateng, to the Chief Executive Officer of the Minerals Commission, Isaac Andrews Tandoh, in the presence of Mr Buah.
The valuation is expected to inform the financial and operational arrangements under the proposed 20-year lease.
