Engineers and Planners Limited has secured the Damang Mining Lease after meeting the minimum financing requirement of $500 million and satisfying all technical and financial criteria set out in the tender process.
According to a report submitted by the Tender Committee to the Ministry of Lands and Natural Resources on Tuesday, April 7, 2026, the company demonstrated access to $505 million in funding from ABSA Bank and Stanbic Bank, surpassing the threshold required for the project’s development.
The evaluation process placed significant emphasis on technical capacity, which accounted for 80 percent of the total score, while financial strength made up the remaining 20 percent. Engineers and Planners Limited achieved a weighted technical score of 76.32 and a financial score of 16.83, resulting in an overall score of 93.15 percent.
In contrast, Heath Goldfields Limited was disqualified after failing to meet the minimum 80 percent technical score required to proceed in the tender. The company was subsequently excluded from the financial evaluation stage.
In line with Regulation 263 of the Minerals and Mining (Licensing Regulations), 2012 (LI 2176), the Tender Committee declared Engineers and Planners Limited the successful bidder and recommended the award of the Damang Mining Lease to the Minister for Lands and Natural Resources for approval.
The Damang mine, one of Ghana’s major gold-producing assets, has been operated by Gold Fields Ghana Limited since 1993. The company holds a 90 percent stake, while the Government of Ghana retains a 10 percent free carried interest under the Minerals and Mining Act, 2006.
The award of the lease to Engineers and Planners Limited is expected to attract fresh investment into the mine and strengthen operational oversight, ensuring sustained productivity in Ghana’s mining sector.
Story by: Andre Mustapha Nii Okai Inusah
Popularly Known As: Attractive Mustapha
Email: attractivemustapha@gmail.com
Contact Number: 0244 259 564
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