Documents reviewed by DAILY GUIDE shows that the process leading to Engineers and Planners (E&P) Company Limited’s potential takeover of the Damang Mine started before the current political administration.
This, therefore, undermine suggestions that the development is linked to political influence or family relationships.
The records indicate that the Ghanaian mining firm initiated steps toward acquiring the Damang asset as far back as September 2023, more than a year before the country’s presidential election in December 2024.
Information available suggests that the transaction evolved through a series of formal engagements between E&P, Gold Fields Limited and relevant government institutions over several years, following established regulatory procedures governing the transfer of mining assets in the country.
Industry observers say the documentation demonstrates that the company’s interest in the mine developed as part of a long-term business strategy that started years ago rather than a sudden initiative tied to political developments.
If the process of a takeover culminates in a successful transition, analysts believe the development could mark a significant moment in the country’s mining history by enabling an indigenous firm to assume control of a major large-scale gold mine.
For more than a century, Ghana’s large-scale mining industry has been dominated largely by multinational corporations.
The Damang Mine, located in the Western Region, is one of the key gold assets previously operated by Gold Fields in Ghana. Over its operational lifetime, the mine has produced more than four million ounces of gold, making it an important contributor to the country’s mineral output.
Gold Fields’ 30-year mining lease for the Damang concession expired in 2025.
To allow time for transition arrangements and ensure operational continuity, the government granted the company a one-year extension.
Gold Fields has since indicated that it intends to formally hand over the mine to the government on April 18, 2026.
At the time, E&P was already operating at the Damang site as a mining contractor, providing operational services within the mine.
Sources reveal that the operational role gave the company deep familiarity with the mine’s geological conditions, production systems and workforce environment.
With more than three decades of experience in Ghana’s mining services sector, E&P had already established itself as one of the country’s leading indigenous mining contractors.
Industry analysts say this operational background positioned the company to consider a transition from service provider to mine owner.
Gold Fields Wind Down
In a letter dated September 4, 2023, titled, “Notice of Demobilisation,” Gold Fields informed E&P that the company intended to wind down active pit mining operations at the Damang Mine.
The letter instructed the Ghanaian contractor to begin demobilising its equipment from the site.
According to Gold Fields, mining of the pits was expected to be completed by December 2023.
DAILY GUIDE learnt the company planned to process existing stockpiles until the mine reached the end of its operational life in 2025.
That meant that once the Huni and LKG pits were fully mined out, no further pit mining would occur.
Information also revealed that the directive effectively indicated that Gold Fields was entering the final operational phase of the Damang Mine.
E&P, DAILY GUIDE learnt, proposed acquisition rather than simply exiting the site following the demobilisation directive, E&P submitted a proposal to acquire the mine.
In a letter dated September 25, 2023, addressed to the Chief Executive Officer of Gold Fields, the Ghanaian mining company formally requested the opportunity to purchase the Damang Mine.
The proposal signalled E&P’s intention to expand its role from contractor to potential mine owner and operator.
Industry analysts say the move reflected a strategic effort by the indigenous firm to enter Ghana’s large-scale mining ownership space.
Gold Fields Reviews Options
Four days later, on September 29, 2023, Gold Fields responded to the proposal.
In an email sent by Jacob Ricciardone, Acting Executive Vice-President for Strategy, Strategic Planning and Corporate Development at Gold Fields, the company stated that it was still assessing its strategic options regarding the future of the Damang Mine.
The correspondence indicated that once the internal review process was completed, Gold Fields would communicate its decision to E&P.
The response meant that while the mining contractor had been asked to demobilise equipment, the broader question of the mine’s future ownership remained under consideration.
Engagement With Government
In 2024, E&P expanded its efforts by formally engaging the government, as required under Ghana’s mining regulations.
The Minerals and Mining Act, 2006 (Act 703) stipulates that the transfer of mining interests or shares in a mining asset must receive government approval through the Ministry of Lands and Natural Resources.
“To facilitate the proposed acquisition, E&P applied for a “no objection” letter from the ministry to support negotiations with Gold Fields.
“On March 12, 2024, the ministry issued the requested document,” parts of the document revealed.
The letter, signed by Prof. Patrick K. Agbesinyale, confirmed that the ministry had no objection to Gold Fields and E&P entering discussions aimed at finalising a transaction involving shares in the Damang Mine.
However, the ministry emphasised that any eventual agreement would still require formal government approval.
Correspondence between the parties continued as discussions about the mine’s future progressed.
In a letter dated November 11, 2025, titled, ‘Checklist of Recommendations for the Transition and Future Operations of the Damang Mine,’ Gold Fields acknowledged E&P’s extensive operational experience at the mine.
The document noted that the contractor possessed significant familiarity with the operational conditions at Damang, suggesting that it could play a role in the mine’s future operations depending on the final ownership structure.
The letter was signed by Elliot Twum and copied to the Chief Executive Officer of the Minerals Commission, Isaac Tandoh, as well as Gold Fields CEO, Mike Fraser.
The document also highlighted the urgency of determining a future operator for the mine to avoid potential delays in securing permits and regulatory approvals.
Government Acknowledges Discussions
Further confirmation of ongoing negotiations emerged in December 2025.
In a letter dated December 8, 2025, the Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah, acknowledged that E&P had engaged Gold Fields regarding the possible acquisition of shares in the Damang Mine.
The minister also accepted a recommendation that E&P should be included in the mine’s transition team.
The decision formally recognised the company as a participant in the transition planning process.
Final Negotiations Sought
In a follow-up letter dated December 16, 2025, E&P wrote to Gold Fields requesting a meeting to discuss the next steps in finalising the proposed acquisition.
The company indicated that earlier discussions between the two organisations had led to the application for the ministry’s no-objection letter, which had already been granted in March 2024.
E&P, therefore, requested further engagement to determine the modalities for concluding a potential share acquisition agreement, subject to the government approval.
Approaching Transition Deadline
DAILY GUIDE sources showed that by January 2026, however, E&P indicated that it had not yet received a response to its request for further discussions.
In a letter dated January 26, 2026, addressed again to Gold Fields CEO Mike Fraser, the company noted that its earlier request for a meeting had not been answered.
The correspondence came as the transition deadline approached.
Industry experts have stated that with Gold Fields planning to hand over the Damang Mine to the government on April 18, 2026, the outcome of the process could represent a pivotal moment for Ghana’s mining industry.
Beyond the immediate issue of Damang’s future operator, industry experts say the development highlights the growing capacity of indigenous mining firms to participate more directly in the ownership and management of large-scale mining operations in the country.
BY Ebenezer K. Amponsah