Ghana's Damang Mine Now Run by Local Company

Engineers and Planners Company Limited officially took control of Ghana's Damang Mine on April 18, 2026, marking the first time a wholly Ghanaian-owned company will operate one of the country's major gold-producing assets. CEO Ibrahim Mahama unveiled ambitious plans that reach far beyond mining to transform the entire Damang region.

The takeover follows years of negotiation that began when Gold Fields Ghana Limited announced plans to close the mine in 2022. Rather than letting the operation shut down and jobs disappear, Mahama worked with government officials to structure a lease agreement that keeps the mine running under local management.

Former President Nana Addo Dankwa Akufo-Addo played a key role in facilitating the negotiations and ensuring the transition followed proper legal channels. The government made clear this is a lease, not a sale, with Ghana retaining ownership of the mineral asset.

Mahama secured $1.25 billion in financing from local banks to fund operations and expansion. The company completed comprehensive feasibility studies before moving forward with the project.

The development plans extend well beyond gold extraction. Within six months, Mahama promises to build an airport connecting Damang to Accra for easier travel and business access.

A concrete or asphalt road linking the region to Cape Coast should be ready within two years. The company also plans to construct hospitals, build sports facilities including astroturf fields for local communities, and invest heavily in infrastructure.

The Ripple Effect

This transition demonstrates Ghana's growing capacity to manage complex mining operations without foreign operators. Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah described the handover as carrying "a nation's confidence" in its own capabilities.

The project prioritizes reinvestment into local communities rather than extracting profits elsewhere. Mahama announced plans to build his personal residence in Damang, signaling his long-term commitment to the area's future.

The mine's continued operation preserves existing jobs while promising new opportunities through infrastructure development. Roads, healthcare facilities, and transportation links could position Damang as a thriving economic hub beyond its mining industry.

This model of local ownership combined with community-focused development could reshape how Ghana approaches natural resource management. What started as negotiations to prevent a mine closure evolved into a blueprint for sustainable, locally-driven growth that keeps profits invested where they're earned.