Omanghana
At the official handover ceremony for the Damang Mine on April 18, 2026, Ghana’s Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, called on Engineers and Planners to make major investments in the mine to support national development and improve the lives of surrounding communities.
The minister said the transfer of the mine to a wholly Ghanaian-owned company represents an important moment for the country and a test of Ghana’s confidence in its own local businesses.
According to Buah, the takeover is part of a broader effort to reset the country’s approach to natural resource management, an idea he said dates back to the vision of Kwame Nkrumah, who believed Ghana’s natural wealth should be used to drive local development.
He urged Engineers and Planners to inject substantial capital into the Damang Mine, which is expected to require around $1 billion to fully revive and expand operations.
The minister also assured workers that the transition would not result in job losses. He directed the new owners to maintain all existing contracts and protect the livelihoods of employees during and after the handover.
Buah stressed that the company must ensure that local communities benefit directly from the mine. He said management should invest in development projects in the area while also creating opportunities for staff training and professional growth.
At the same time, the minister warned that the mine is not being sold permanently. He explained that Engineers and Planners has only been granted a lease to operate the mine, and that the arrangement will remain under close supervision by the Minerals Commission.
In response, the Chief Executive Officer of Engineers and Planners, Ibrahim Mahama, said the company is financially prepared to take over and develop the mine.
He revealed that Engineers and Planners has already secured $505 million in financing from Absa Bank and Stanbic Bank to begin work on the project.
Mahama also outlined several ambitious plans for the area. He said the company intends to build an airport in Damang within six months and construct a concrete road linking the mining area to Cape Coast within two years.
He further pledged that Engineers and Planners would use Ghanaian expertise and technology to extend the life of the Damang Mine beyond ten years, ensuring that the mine continues to contribute to the country’s economy for many years to come.
Source: Omanghana
