Ibrahim Mahama expresses gratitude to Akufo-Addo for his involvement in the acquisition arrangement for Damang Mine

To Engineers and Planners, he mentioned that this came after several years of talks with various parties, including the government.

He shared that this journey commenced in 2022, when Gold Fields announced intentions to gradually cease its operations, creating an opportunity for discussions on the orderly transfer of the asset.

He stated that the government’s participation was crucial in advancing the negotiations, emphasizing that the former President Akufo-Addo was instrumental in facilitating the dialogue process.

“I am grateful to our previous President Nana Akufo-Addo. He provided me with a document to engage in negotiations with Gold Fields to ensure the continuity of the mine [Damang],” he remarked.

Airport to be built in 6 months, Road to be completed in 2 years: Ibrahim Mahama’s bold vision for Damang

Ibrahim Mahama further pointed out that the state’s involvement was key in steering discussions that led to an agreement for the concession transfer through the appropriate regulatory and licensing procedures.

He emphasized that this agreement was not merely a commercial deal, but also tied into initiatives aimed at enhancing local expertise in substantial mining operations in Ghana.

“I spoke to the government and explained that mining involves more than just acquiring tools and drilling. It requires assembling the right individuals,” he expressed.

He also revealed that Engineers and Planners undertook thorough technical and financial assessments prior to taking on the concession, which included an actionable feasibility study and obtaining financing pledges from both international and domestic financial organizations.

“We conducted a viable study. Our analysis showed that we could proceed. We approached several banks here, and one has committed 650 million, while another has pledged 600 million,” he observed.