Omanghana
Ghanaian businessman Ibrahim Mahama has publicly thanked former President Nana Addo Dankwa Akufo-Addo for helping his company acquire the Damang Mine.
Speaking at an official handover ceremony on April 18, 2026, Mahama said the former president played a key role by providing a crucial document that enabled his company, Engineers and Planners, to begin negotiations with Gold Fields Ghana Limited and keep the mine operating during a difficult transition period.
The Damang Mine was officially transferred from Gold Fields to Engineers and Planners after the expiration of Gold Fields’ lease and a competitive bidding process. The takeover marks the first time the mine will be operated by a wholly Ghanaian-owned company.
Mahama said government support was essential in completing the transaction. He explained that a “letter of no objection” from the government helped the company move through the necessary regulatory and licensing processes.
He also stated that Engineers and Planners had demonstrated its readiness to manage the mine by securing major funding commitments from both local and international banks. According to him, the company obtained between $600 million and $650 million in financing and completed a bankable feasibility study to prove that a Ghanaian company could successfully operate a large-scale mining project.
Following the takeover, Ibrahim Mahama announced plans to invest heavily in the area surrounding the mine. He said the company intends to build an airport at Damang within six months and construct a concrete road linking the area to Cape Coast within the next two years.
The acquisition is being viewed as a major milestone in Ghana’s effort to increase indigenous ownership in the mining sector and give local companies a larger role in the country’s natural resource industry.
Source: Omanghana
