Gold Fields' Tarkwa Mine lease renewal not automatic - Minerals Commission

The Chief Executive Officer of the Minerals Commission, Isaac Andrews Tandoh, has reaffirmed the government’s plans to review the mining lease renewal application of Gold Fields for its Tarkwa mine, stressing that the company will undergo a fresh assessment process before any final approval is granted.

According to him, officials from the government and Gold Fields recently held discussions on the matter, including a meeting held last Friday.

Speaking in an interview with Reuters on Monday, May 25, 2026, Tandoh explained that the company would be required to present its future development plans to a technical committee at the Minerals Commission before proceeding to another presentation at the ministerial level.

Bright Simons wrong on Damang gold sales claims - Dr Manteaw

Following the review process, a final decision will then be taken on whether the lease will be renewed.

“It won’t be business as usual where we just automatically renew the lease,” he stated.

Meanwhile, Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah clarified that the government has not adopted a policy of taking over mining companies.

According to him, the government is rather interested in partnerships that will help transfer skills to Ghanaians and strengthen local participation in the mining sector.

He stressed that authorities want mining companies operating in the country to leave behind expertise that would benefit local communities and the broader economy.

The discussions come months after the government rejected Gold Fields’ application to renew the lease for its Damang mine in April 2025 and subsequently took operational control of the facility.

The Ghana Chamber of Mines has also expressed concern over recent developments in the mining sector.

The Chamber warned earlier this month that uncertainty surrounding lease renewals and revocations could create doubts among investors about the security of mining investments in Ghana.

The Tarkwa mining lease, which remains one of Gold Fields’ key assets, is expected to expire in 2027. The mine reportedly produced about 427,000 ounces of gold in 2025.

The issue has generated public debate, with some civil society organisations and residents in mining communities urging the government not to renew the Tarkwa lease.

ANAS/MA