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Ghana's Damang Gold Mine Changes Hands After Gold Fields Exit

Bloomberg Markets •
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Engineers and Planners Co. secured the Damang gold mine in Ghana after Gold Fields Ltd. relinquished the asset to the government, according to a Ministry of Lands and Natural Resources statement. The closely held company, led by the brother of Ghana's president, outbid three competitors—Vortex Resources, Maripoma Mining, and Heath Goldfields—who failed to meet all tender criteria. Gold Fields had previously faced operational challenges at Damang, including contractor disputes, leading to its withdrawal. This transfer marks a significant shift in Ghana's mining landscape, consolidating control under a domestic entity with political ties.